... phenomenon price revision underpricing In August 2014, approximately six years after issuing an exposure draft on the subject, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic...

... additional post-IPO disclosures to mitigate the increased information uncertainty. Our results also are consistent with agency explanations, whereby EGCs exploit the JOBS Act provisions to avoid compensation-related disclosures, which results in larger IPO underpricing for such firms. Overall, we provide...

...Hyun A. Hong; Mingyi Hung; Gerald J. Lobo ABSTRACT: This study examines the impact of mandatory IFRS adoption on IPO underpricing and the relative amount of IPO capital raised in foreign markets. Using a difference-in-differences design, we find a decrease in IPO underpricing and an increase...