–2004 period to test the underpricing effect. We do not find any evidence that risk management can reduce the uncertainty relating … to the new issue and hence alleviate the extent of underpricing. A plausible explanation for this lack of evidence is the … provide evidence that the underpricing returns for resources IPOs are not impacted upon by the strength of alternative …

–2004 period to test the underpricing effect. We do not find any evidence that risk management can reduce the uncertainty relating … to the new issue and hence alleviate the extent of underpricing. A plausible explanation for this lack of evidence is the … provide evidence that the underpricing returns for resources IPOs are not impacted upon by the strength of alternative …

This paper focuses on the underpricing and the short- and long-run performance of Finnish initial public offerings …

codes by Member States of the European Union (EU) have affected IPO underpricing on Member State-regulated markets, where … underpricing declined on Member State-regulated markets after Member States adopted corporate governance codes containing SOX …-like provisions. We do not find a similar reduction in IPO underpricing on exchange-regulated markets. Our results are robust to …

magnitude of underpricing is significantly lower, while underperformance is higher than those of in other studies. Our strong … evidence supports the existence of the underpricing by positive initial excess returns (5.94%) and the long …