文章基本信息

标题：UNDERPRICING AND EX ANTE UNCERTAINTY IN IPOS: EVIDENCE FROM THE TUNISIAN STOCK MARKET
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作者：Ahmed JERIBI
期刊名称：Business Excellence and Management
印刷版ISSN：2248-1354
出版年度：2015
卷号：5
期号：1
出版社：Academia de Studii Economice din Bucuresti
摘要：In our paper, we use a sample of 33 IPOs listed on the Tunisian Stock Exchange (TSE) from 1994 to 2012 in order to study how the ex ante uncertainty affects the total and the involuntary underpricing. We find that the most underpriced firms are IT firms and those which choose the fixed price mechanism and have the little issue size and the lowest number of days between the prospectus registration and the first day of the subscription period. We also find that only the firm’s sector and the number of days between the prospectus registration and the first day of the subscription period affect involuntary underpcing
关键词：Initial public offering (IPO); Ex ante uncertainty; Total underpricing; Involuntary underpricing