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

Table 3

Descriptive statistics of variables of NASDAQ.

Variable symbol	Mean	Std	Min	Max
UP	0.363	0.282	0.096	2.493
Age	7.607	1.074	2.833	10.567
ROE	−0.887	6.575	−114.996	14.218
Size	18.362	1.928	8.573	23.982
Growth	−0.024	0.099	−0.964	0.612
TFR	1.742	2.689	0.053	34
URF	1.148	1.304	0.042	9.625
UR	0.954	0.209	0	1
FT	19.668	33.101	0.073	521.052
PBR	0.007	0.448	−5.519	2.949
RRF	6.572	9.541	0.01	95.54