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

Table 2

Descriptive statistics of variables of STAR Market.

Variable symbol	Mean	Std	Min	Max
UP	0.938	0.446	0.019	2.620
Age	8.568	0.358	7.432	9.587
ROE	0.127	0.074	0.011	0.686
Size	20.596	0.969	18.643	25.467
Growth	18.362	0.762	16.363	22.036
TFR	11.523	31.036	1.076	532.302
URF	6.247	5.096	1.835	69.199
UR	0.643	0.48	0	1
FT	75.076	5.948	53.075	98.965
PBR	0.283	0.104	0.102	0.874
RRF	−4.257	86.206	−96.11	727.121