Air pollution, bid price bias, and IPO underpricing
We examine the impact of air pollution on underpricing of initial public offerings (IPOs) and its underlying mechanisms. Our findings suggest that IPO underpricing increases when air pollution is more severe in cities where bidding investors are located. Mechanism tests show that air pollution influ...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2023-10-01
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| Series: | Borsa Istanbul Review |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S221484502300090X |