منابع مشابه
Ockham's broom: A new series
Although it is increasingly difficult to gauge what people can be expected to know, it is probably safe to assume that most readers are familiar with Ockham's razor – roughly, the principle whereby gratuitous suppositions are shaved from the interpretation of facts – enunciated by a Franciscan monk, William of Ockham, in the fourteenth century. Ockham's broom is a somewhat more recent conceit, ...
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1 Department of Biology, University of North Carolina at Chapel Hill, Chapel Hill, North Carolina, United States of America, 2 Department of Plant & Microbial Biology, University of California, Berkeley, Berkeley, California, United States of America, 3 Laboratório de Genômica e Expressão, Departamento de Genética, Evolução e Bioagentes, Instituto de Biologia, Universidade Estadual de Campinas ...
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We find direct evidence that institutions churn stocks, increase commissions per share and pay unusually high commissions on trades in order to send abnormally high commissions to lead underwriters of upcoming IPOs. These excess commission payments are a particularly effective way for transient investors to receive lucrative IPO allocations. Our results suggest that the underwriter’s concern fo...
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ژورنال
عنوان ژورنال: Nature
سال: 1985
ISSN: 0028-0836,1476-4687
DOI: 10.1038/314009a0