MARKET SENTIMENT. MEDIA HYPE AND THE UNDERPRICING OF INITIAL PUBLIC OFFERINGS: THE CASE OF AUSTRALIAN TECHNOLOGY IPOS BEAUTY HO, MAYA TAHER, ROBERT LEE AND NEIL FARGHER SCHOOL OF ACCOUNTING THE UNIVERSITY OF NEW SOUTH WALES AUGUST 10. 2001 Acknowledgements The authors thank participants in the Current Developments in Financial Accounting Research Seminar at the University of New South Wales, Elizabeth Carson, and Mike Wilkins for their helpful comments. We gratefully acknowledge the provision of data and assistance from William Huang of the Securities Industry Research Centre of the Asia-Pacific ("SIRCA"), and Atika Lenz from JPMorgan. We also acknowledge the research assistance of Wendy Chan. Any errors or omissions remain the responsibility of the authors alone All data is publicly availableMARKET SENTIMENT, MEDIA HYPE AND THE UNDERPRICING OF INITIAL PUBLIC OFFERINGS: THE CASE OF AUSTRALIAN TECHNOLOGY IPOS. BEAUTY HO, MAYA TAHER, ROBERT LEE AND NEIL FARGHER SCHOOL OF ACCOUNTING THE UNIVERSITY OF NEW SOUTH WALES AUGUST 10, 2001 Acknowledgements The authors thank participants in the Current Developments in Financial Accounting Research Seminar at the University of New South Wales, Elizabeth Carson, and Mike Wilkins for their helpful comments. We gratefully acknowledge the provision of data and assistance from William Huang of the Securities Industry Research Centre of the Asia-Pacific (“SIRCA”), and Atika Lenz from JPMorgan. We also acknowledge the research assistance of Wendy Chan. Any errors or omissions remain the responsibility of the authors alone. All data is publicly available