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Doctoral thesis of Philosophy: Essays on the role of the incentives of issuers, transparency, and culture on the global IPO underpricing difference

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Initial public offerings (IPOs) underpricing is a widely researched area in finance literature. Yet, empirical evidence demonstrating and theoretical models explaining differences in underpricing across countries have remained an enigma in academia for a long time. This thesis consists of three independently interconnected essays that explain differences in underpricing observed across the Group of Twenty (G20) IPO markets.

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