Does mispricing, liquidity or third-party certification contribute to IPO downside risk?
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DOI: 10.1016/j.irfa.2017.03.001
Abstract: This study analyses the impact of initial return, post-issue liquidity, and third-party certification on downside risk of initial public offerings (IPOs). Downside risk, measured by value-at-risk (VaR) and conditional value-at-risk (CVaR), draws upon Extreme Value… read more here.
Keywords: liquidity; risk; party certification; downside risk ... See more keywords