IPO Underpricing, Earnings Quality, and more

Another FMA paper. This one looks at IPO underpricing and Earnings Quality and is by Thomas J. Boulton, Scott B. Smart, Chad J. Zutter.The shortest version is that using international evidence the authors find underpricing is greater where earnings quality (transparency) and liquidity are lower.The abstract says it best: "Examining 7,306 IPOs from 34 countries, we find less underpricing in