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1. Essay Question (40 points): What is IPO underpricing? Explain in depth and discuss the different theories on how and why this occurs. Since these

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1. Essay Question (40 points): What is IPO underpricing? Explain in depth and discuss the different theories on how and why this occurs. Since these are essay questions, to receive full points, proper paragraphs must be presented with logical sentences and arguments and flow. Then, after all that, relate this specifically to an example covered in our lectures

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