IPO Pricing, Investor Behavior, and IPO Underpricing of High-Tech Companies: Evidence from SSE STAR Market and Nasdaq Market

<table class="table-group" id="tab14"><tr><td><table class="table"><tr><td class="thead-hr" colspan="6"><hr/></td></tr><tr class="thead"><td class="align_left">Group</td><td class="align_center">Mean (%)</td><td class="align_center">Std (%)</td><td class="align_center">Q1 (%)</td><td class="align_center">Q2 (%)</td><td class="align_center">Q3 (%)</td></tr><tr><td class="thead-hr" colspan="6"><hr/></td></tr><tr><td class="align_left">Small and medium-sized enterprises</td><td class="align_center">19.46</td><td class="align_center">11.66</td><td class="align_center">10.68</td><td class="align_center">16.12</td><td class="align_center">24.76</td></tr><tr><td class="align_left">Large enterprises</td><td class="align_center">19.87</td><td class="align_center">12.57</td><td class="align_center">10.97</td><td class="align_center">15.90</td><td class="align_center">21.67</td></tr><tr class="table-tr"><td colspan="6"><hr class="tbody-hr"/></td></tr></table></td></tr></table>

<div>Net effect of IPO underpricing decomposition of different enterprise sizes on the STAR Market (NE).</div>

Discrete Dynamics in Nature and Society

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Table 14

Table 14: IPO Pricing, Investor Behavior, and IPO Underpricing of High-Tech Companies: Evidence from SSE STAR Market and Nasdaq Market 