A note on the pricing of IPOs

Frederik Lundtofte

doi:10.1016/j.econlet.2009.10.014

A note on the pricing of IPOs

Frederik Lundtofte^*

^*Kontaktforfatter

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › peer review

2 Citationer (Scopus)

Abstrakt

This paper studies the pricing of IPOs in a tractable model in which an investment bank faces some investors with superior information. We show how this can lead to underpricing and we make a number of empirical predictions.

Originalsprog	Engelsk
Tidsskrift	Economics Letters
Vol/bind	106
Udgave nummer	2
Sider (fra-til)	105-107
Antal sider	3
ISSN	0165-1765
DOI	https://doi.org/10.1016/j.econlet.2009.10.014
Status	Udgivet - 1 feb. 2010
Udgivet eksternt	Ja

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10.1016/j.econlet.2009.10.014

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Citationsformater

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abstract = "This paper studies the pricing of IPOs in a tractable model in which an investment bank faces some investors with superior information. We show how this can lead to underpricing and we make a number of empirical predictions.",

keywords = "Fixed-price auction, IPO underpricing, Monopoly pricing, Risk aversion",

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AB - This paper studies the pricing of IPOs in a tractable model in which an investment bank faces some investors with superior information. We show how this can lead to underpricing and we make a number of empirical predictions.

KW - Fixed-price auction

KW - IPO underpricing

KW - Monopoly pricing

KW - Risk aversion

UR - http://www.scopus.com/inward/record.url?scp=73249139257&partnerID=8YFLogxK

U2 - 10.1016/j.econlet.2009.10.014

DO - 10.1016/j.econlet.2009.10.014

M3 - Journal article

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VL - 106

SP - 105

EP - 107

JO - Economics Letters

JF - Economics Letters

SN - 0165-1765

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A note on the pricing of IPOs

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