International Journal of Managerial Finance: Volume 1 Issue 2

Underpricing, share retention, and the IPO aftermarket liquidity

Mingsheng Li, Steven Xiaofan Zheng, Melissa V. Melancon

To test the effects of underpricing and share retention (i.e. the proportion of shares retained by the pre‐initial‐public‐offering (IPO) owners) on IPO aftermarket liquidity.

Robust multivariate modeling in finance

Beatriz Vaz de Melo Mendes, Ricardo Pereira Câmara Leal

Proposes a new covariance matrix robust estimator able to capture the correct orientation of the data and the large unconditional variance caused by occasional high volatility…

Management's disclosure of hedging activity: An empirical investigation of analysts’ and investors’ reactions

Jennifer Reynolds‐Moehrle

This study aims to examine how market participants changed the way they process earnings information after learning of the implementation of hedging activities.

Personal taxes, shareholder valuation of riskless corporate taxable cash flows, and management investment decisions

Joseph K. Winsen

To analyse the net present value (NPV) rule for corporate investments incorporating shareholder personal taxes, under the classical system of taxing corporate profits.