A large number of newly listed firms have significant involvement in international business activity. In this paper, we examine the effect of international business activity on the pricing of initial public offerings (IPOs), post-IPO performance, and survival. In a large sample of U.S. IPOs over...

m addressing global minimum variance (GMV) portfolio, which gives the weights as the function of estimated covariance matrix of the asset net returns. The inverse operation of the matrix always leads to ill-conditioned matrix due to the noise in the return series. Therefore, regularized sample...