IPO Underpricing Reduced by Intellectual Capital Disclosure and Underwriter Reputation
The study looked at how sharing information about a company's intellectual assets and the reputation of the underwriter can affect the initial pricing of a company's stock when it goes public. They found that companies that disclose more about their intellectual assets and have a good underwriter reputation tend to have lower initial stock price jumps. This suggests that providing more information about a company's intellectual assets and having a reputable underwriter can help reduce the initial stock price increase when a company goes public.