DETERMINANTS OF IPOS UNDERPRICING LEVEL: EVIDENCES FROM THE U.S. STOCK MARKET
Pan, Xiaoyuan (2010) DETERMINANTS OF IPOS UNDERPRICING LEVEL: EVIDENCES FROM THE U.S. STOCK MARKET. [Dissertation (University of Nottingham only)] (Unpublished)
A puzzle regarding initial public offerings (IPOs) is the motivation of the issuers/underwriters “leaving the money on the table to the investors”. Numerous theoretical and empirical models explaining this underpricing phenomenon in the financial markets, they mainly focus on the asymmetric information problems, control and ownership considerations, behaviour consideration and lawsuit avoidance.
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