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 |
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Tidsskrift | Economics Letters |
Vol/bind | 106 |
Udgave nummer | 2 |
Sider (fra-til) | 105-107 |
Antal sider | 3 |
ISSN | 0165-1765 |
DOI | |
Status | Udgivet - 1 feb. 2010 |
Udgivet eksternt | Ja |