Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 30382
IPO Price Performance and Signaling

Authors: Chih-Hsiang Chang, I-Fan Ho


This study examines the credibility of the signaling as explanation for IPO initial underpricing. Findings reveal the initial underpricing and the long-term underperformance of IPOs in Taiwan. However, we only find weak support for signaling as explanation of IPO underpricing.

Keywords: Signaling, IPO initial underpricing, Taiwan’s stock market, IPO long-term underperformance

Digital Object Identifier (DOI):

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