A Managerial Motive for Initial Public Offering Underpricing
نویسندگان
چکیده
منابع مشابه
Underpricing of Initial Public Offerings in Almost Perfect Capital Markets: Experimental Evidence
The underpricing of initial public offerings is a well-documented fact of empirical equity market research. Theories explain this underpricing with market imperfections. We study three empirically relevant IPO mechanisms under almost perfect market conditions in the laboratory: a stylized book building approach, a closed book auction, and an open book auction. We report underpricing in each of ...
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