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This paper investigates the underpricing of IPOs on the Stock Exchange of Mauritius (SEM). ... Taking into account the whole population of firms which went public since the inception of the SEM until 2010, the results show an average degree of underpricing within the range 10 to 20%. ... Acknowledgements We thank the Editor, Brian Lucey, and the anonymous referee for useful comments that helped to improve the paper. ...doi:10.1016/j.ribaf.2012.01.001 fatcat:gknx7icfn5e2recvzmnyslzf54
(For more information, please contact: Peter W. ... Both approaches have merit in that they demonstrate the crossvergence effect which aims to strike a balance between cultural convergence due to globalization and cultural divergence that argues for cultural ... underpricing, while employing independent outside directors mitigates IPO underpricing. ...doi:10.1504/ijssm.2012.049008 fatcat:cotuwrnckzdc3mzthlcj2yem64
Thirdly we survey the group approach of Gomory, showing the importance of subadditivity in integer programming and the generation of valid inequalities, as well as the relation to the parametric problem ... This quantile treatment effects (QTE) estimator accommodates exogenous covariates and reduces to quantile regression when selection for treatment is exogenously determined. ... A new kind of "core convergence" result is presented to explain this; the fact that each applicant can interview for only a small fraction of available positions is important. ...doi:10.1017/s0951007900005210 fatcat:veyvhaf3tjdwphmwkmo64q43fy
AB We develop a model for decomposing the covariance structure of panel data on firms into a part due to permanent heterogeneity, a part due to differential histories with unknown ages, and a part due ... to the evolution of economic shocks to the firm. ... A policy to subsidize water is shown to lead to both countries being made worse off, but is likely to be supported by special interests having water rights, and those in sectors such as agricultural that ...doi:10.1017/s0951007900003788 fatcat:75vrjevycjgztb3d2zaxyupcj4
By improving the firm's information environment through higher quality financial reports and more disclosure, firms can reduce the the degree information asymmetry which leads to a higher market liquidity ... This would lead us through a sort of unified competition based theory which is required to fill a very important gap in broad IPO literature. ... These are just some examples for the first category. The second category, short/long term stock performance after IPO, has very much to do with the concept of 'underpricing'. ...fatcat:ttbpsymyxnaxjhegg466ajpjiq