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2006•Journal of Harbin University of CommerceRequires access

A Review on IPO Underpricing

Shi An

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Abstract

The theory of initial public offerings(IPOs) focus on three abnormal phenomena: IPO underpricing,long run underperformance of IPO,and hot issue markets.These three long-standing phenomena are conflicted with the EMH widely,which attracted attention from economists all over the world.The IPO underpricing is the emphasis out of the three.It is important to research on IPO underpricing academicly and practically.

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What this paper is about

The theory of initial public offerings(IPOs) focus on three abnormal phenomena: IPO underpricing,long run underperformance of IPO,and hot issue markets.These three long-standing phenomena are conflicted with the EMH widely,which attracted attention from economists all over the world.The IPO underpricing is the emphasis out of the three.It is important to research on IPO underpricing academicly and practically.

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Available abstract

The theory of initial public offerings(IPOs) focus on three abnormal phenomena: IPO underpricing,long run underperformance of IPO,and hot issue markets.These three long-standing phenomena are conflicted with the EMH widely,which attracted attention from economists all over the world.The IPO underpricing is the emphasis out of the three.It is important to research on IPO underpricing academicly and practically.

Key concepts: Initial public offering, Business, Accounting, Monetary economics, Financial system, Economics

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