attorneys by leveraging exceptional legal or negotiating abilities as quality certifcation signals to reduce IPO investors' ex-ante … uncertainty. Here, the objective is to protect their IPOs from withdrawal of at least by 22%. Multiple robustness tests validate …

-pricing regarding eleven different sectors. Among the variables we use in our study ex-ante uncertainty and over-subscription variables …

influenced by investor sentiment and demand, and less by ex-ante uncertainty, especially during the dot-com boom. … around the world and has often been explained to be as a result of asymmetrically distributed information and ex-ante … uncertainty. However, as Ritter and Welch (2002) argue to the contrary, these theories are unlikely to explain the persistent …