Journal of Korean Society of Industrial and Systems Engineering (산업경영시스템학회지)
- Volume 23 Issue 57
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- Pages.41-49
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- 2000
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- 2005-0461(pISSN)
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- 2287-7975(eISSN)
The Underpricing and The Long-run Performance of IPO Firms
IPO기업의 장기성과와 저가발행
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.
Keywords