The Variability of IPO Initial Returns

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Going Public to Acquire? The Acquisition Motive in IPOs (2010, background): “As proposed by Lowry, Officer, and Schwert (2010) and Hsieh, Lyandres, and Zhdanov (2009), this variable reflects the reduction in ex ante uncertainty with regard to the true value of an IPO firm.”
Do Investors Overweight Personal Experience? Evidence from IPO Subscriptions (2008, background): “For comparison, the standard deviation of US IPO returns was 55% over 1964-2004, and well over 100% during September 1998 – August 2000 (Lowry, Officer, and Schwert, 2006). these investors.”
A Theory of Merger-Driven IPOs (2011, neutral): “…share of lead underwriter, natural logarithm of issue amount, cumulative return on the NASDAQ index for 3 weeks prior to the 9This definition of offer price revision is also employed by Bradley and Jordan (2002), Ljungqvist and Wilhelm (2003), and Lowry, Officer, and Schwert (2010), among others.”
Media Coverage and the Cost of Debt (2019, neutral): “The literature has shown that IPO firms characterized by higher information asymmetry tend to be more underpriced (Rock (1986), Beatty and Ritter (1986)) and have higher return volatility initially (Lowry, Officer, and Schwert (2010)).”