Hyun A. Hong, Mingyi Hung and Gerald Lobo, ‘The impact of mandatory IFRS adoption on IPOs in global capital markets’, look at the effect of mandatory IFRS adoption on initial public offering (IPO) underpricing. Their test sample comprises 1,540 IPOs in 2003–2004 and 2006–2007, for firms in 20 countries (six non-EU). They use three benchmark samples from nine non-IFRS countries.