We examine underpricing, long‐run returns, lockup periods, and gross spreads for penny
stock IPOs over the 1990–1998 period. We find that penny stock IPOs have higher initial …

Previous research finds that stock analysts exhibit both optimistic and pessimistic biases in
their earnings forecasts, with the net result being a consistent but declining overestimation of …

Given the rapid growth of investment products focused on socially responsible investing (SRI),
in March 2016 Morningstar began reporting standardized metrics to “grade” the …

We conduct a clinical study on a firm that restructures its 401 (k) plan and simultaneously offers
financial education seminars to its employees. The restructuring requires each employee …

IPO underpricing has been extensively studied; however, its impact on the wealth of preexisting
shareholders has not been closely examined. We address the question of whether or not …

Purpose – It has been found that stock market returns vary seasonally with the amount of
daylight, and they attribute this effect to seasonal affective disorder (SAD), which is a …

This article analyses a set of 4606 IPOs from the 1986 to 2000 period, specifically focusing
on the certification effect associated with venture capital backing. It concludes that venture …

We extend existing research that examines the impact of culture on risk tolerance. Using
surveys completed by Chinese and American students, we find, consistent with previous studies…

We examine Initial Public Offerings (IPOs) of Real Estate Investment Trusts (REITs) that went
public between 1986 and 2004. Consistent with previous studies, we find that REIT IPOs …

Previous studies examine the potential benefits of using classroom games and simulations,
finding that their use generally increases knowledge and interest level. However, few (if any) …