Browsing by Author "Muller, Michael"

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    Underpricing on initial public offerings: further evidence from the JSE
    (2011) Muller, Michael; Correia, Carlos
    This paper provides evidence of the existence of IPO underpricing on the JSE between 2000 and 2008. Average underpricing over the period was found to be 17.1 percent (median: 9.4 percent). In line with the general global decline in first day returns following the end of the internet bubble period, average underpricing on the JSE has decreased relative to previous studies.