underwriters' valuation and underpricing in 113 firms going public on Borsa Istanbul. It argues that underwriter discretion in the … valuation is crucial to underpricing in the Turkish market, where fixed price is the dominant method of offering and retail … initial returns. One standard deviation increase in deliberate discounts is associated with a 30.4% reduction in underpricing …

). We argue that hard to value firms conduct smaller IPOs, and that they return to the equity market conditional on positive … strong support for these arguments in a sample of 2,143 U.S. IPOs between 1981-2014. Hard to value firms conduct smaller IPOs …

We study the impact of country-level accounting conservatism on international IPO underpricing. Examining 13,285 IPOs … lower country-level PIN values and that the negative relation between conservatism and underpricing is strongest for IPOs … from 36 countries, we find that IPOs are underpriced less in countries where existing public firms practice more accounting …

underpricing in IPOs through the use of a structural approach mode. The outcome is a proxy value that replicates investors …' flipping behavior. When tested empirically, the model predicts that on average 25% of underpricing exists to protect long …

structor and initial underpricing for both group of IPOs. Methods: Event study methodology is used to compares short- and long … for investigating the relationship betwen underpricing and ownership structure for both group of IPOs. Results: We find … entity, aftermarket risk of IPOs, and subscription ratio are significantly associated with the underpricing of IPO shares …

We examine whether underwriters price-up weakly-demanded IPOs to prevent withdrawal. Our empirical strategy exploits a … aftermarket returns of these IPOs to the returns of other weakly-demanded offerings where issuers' reservation prices were likely …

prices. However, in cases where banks lead-manage their own bond offerings the underpricing is significantly less as compared …

This paper examines the impact of economic policy uncertainty on initial public offering (IPO) underpricing, using a … large sample of IPO firms in China. We find that heightened economic policy uncertainty leads to increasing IPO underpricing … relationship between economic policy uncertainty and IPO underpricing is stronger for small firms, firms with less analyst …