ISSN : 2005-0461(Print)
ISSN : 2287-7975(Online)
ISSN : 2287-7975(Online)
IPO기업의 장기성과와 저가발행
The Underpricing and The Long-run Performance of IPO Firms
Abstract
This paper investigates the relation between operating performance and initial underpricing of companies that go public. A significant decline in operating performance subsequent to the initial public offering(IPO) is found. Additionally there is a significant positive relation between post-IPO operating performance and the level of initial underpricing.
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