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Valuation uncertainty risk compensation and IPO prospectus earning forecasts

Shi, Jing; Bilson, Chris; Powell, John G


Younger, riskier, less credible firms do not voluntarily supply initial public offering prospectus earnings forecasts. Nondisclosure increases valuation uncertainty risk, thus necessitating higher first-day underpricing and long-run performance as compensation.

CollectionsANU Research Publications
Date published: 2008
Type: Journal article
Source: Applied Economics Letters
DOI: 10.1080/13504850600706107


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