... Ann Arbor, MI 48106 - 1346 MISPRICING OF INITIAL PUBLIC OFFERINGS (IPOs): THE ROLE OF ACCOUNTING INFORMATION A DISSERTATION APPROVED FOR THE MICHAEL F PRICE COLLEGE OF BUSINESS BY Dr Robert Lipe, ... omitted variable The role of life cycle in the mispricing of IPO stocks is largely Another IPO pricing anomaly that is not part of my study is that shares of IPO firms are offered to the public at prices ... regarding the role of accounting information in the mispricing of IPOs In tests using my full sample of IPO firms, I document evidence that, on average, overpricing of IPO stocks recorded at the end of...