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 …

… Dolvin and Pyles find support for this notion, as issues going public during fall and winter
are associated with higher levels of underpricing and a larger degree of offer price revisions. …

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 …

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…

… However, an alternative branch of research (eg, Barry 1984; Dolvin and Jordan 2007) suggests
… Dolvin and Jordan define the wealth effect in percentage terms, which they refer to as the …

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) …

I examine the pricing differences between two S&P500 ETFs (ticker symbols SPY and IVV)
and the underlying stock index. I find that, on average, both ETFs trade at a premium relative …