Which of the following is a true statement regarding IPO underpricing? Select one: a. Underpricing of shares makes the shares less desireable for investors. b. Investors feel the firm has information they do not posess, underprcing makes the shares more attractive for investors. c. With underpricing, it is more difficult for underwriters to sell the maximum number of shares. d. Academic research indicates that the higher the reputation (market share) of the underwriter, the higher the amount of underpricing. e. Investors feel they have more information than "the market" because they do more research on individual firms