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Share Retention, Underwriter Reputation, And Initial Public Offering Underpricing, Marcia Yvonne Reid-Grant
Share Retention, Underwriter Reputation, And Initial Public Offering Underpricing, Marcia Yvonne Reid-Grant
Walden Dissertations and Doctoral Studies
Initial public offering (IPO) underpricing is a costly practice that decreases the IPO proceeds accruing to the issuing firms and can derail a firm's growth objectives. The purpose of this correlational study was to determine the relationship between share retention, underwriter reputation, and IPO underpricing among a population of IPOs issued in Jamaica. The efficient market hypothesis served as the theoretical framework for this study. Archived data for 52 IPOs issued in Jamaica from 1986 to 2018 were collected and Spearman's correlation matrix and heteroscedasticity-consistent standard errors regression analysis were applied. The outcomes of this study indicated no significant relationship …