ABSTRACT
The Initial Public Offerings (IPOs) had a very prominent role to play in the United States stock market boom of 1991-1999. Thousands of IPOs were launched during this period both in the New York Stock Exchange and in the NASDAQ market, the latter taking the important part in the information technology revolution of the 1990s. Also, the NASDAQ market spawned a large number of Internet IPOs many of which, unfortunately, became bankrupt in 2001-2002 when the bubble burst at the end of 2000. Our main purpose here is to examine the pricing and performance of the IPOs—issued both in the NYSE and NASDAQ markets—which shaped the U.S. economy decidedly during the last crucial decade.
