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

Table 15

Net effect of IPO underpricing decomposition of different enterprise sizes on the Nasdaq Market (NE).

Group	Mean (%)	Std (%)	Q1 (%)	Q2 (%)	Q3 (%)
Small and medium-sized enterprises	1.69	12.47	−2.74	0.59	5.57
Large enterprises	−0.15	9.53	−1.36	0.00	3.31