Initial Public Offerings: Findings and Theories
Initial public offerings (IPOs) play a crucial role in allocating resources in market economies. Because of the enormous importance of IPOs, an understanding of how IPOs work is fundamental to an understanding of financial markets generally. Of particular interest is the puzzling existence of high initial returns to equity IPOs in the United States and other free-market economies.
Audience: Designed for use by anyone wishing to perform further academic research in the area of IPOs and by those practitioners interested in IPOs as investment vehicles.
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Initial Public Offerings: Findings and Theories
Initial public offerings (IPOs) play a crucial role in allocating resources in market economies. Because of the enormous importance of IPOs, an understanding of how IPOs work is fundamental to an understanding of financial markets generally. Of particular interest is the puzzling existence of high initial returns to equity IPOs in the United States and other free-market economies.
Audience: Designed for use by anyone wishing to perform further academic research in the area of IPOs and by those practitioners interested in IPOs as investment vehicles.
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Initial Public Offerings: Findings and Theories

Initial Public Offerings: Findings and Theories

Initial Public Offerings: Findings and Theories

Initial Public Offerings: Findings and Theories

Paperback(Softcover reprint of the original 1st ed. 1995)

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Overview

Initial public offerings (IPOs) play a crucial role in allocating resources in market economies. Because of the enormous importance of IPOs, an understanding of how IPOs work is fundamental to an understanding of financial markets generally. Of particular interest is the puzzling existence of high initial returns to equity IPOs in the United States and other free-market economies.
Audience: Designed for use by anyone wishing to perform further academic research in the area of IPOs and by those practitioners interested in IPOs as investment vehicles.

Product Details

ISBN-13: 9781461359692
Publisher: Springer US
Publication date: 12/08/2012
Series: Innovations in Financial Markets and Institutions , #8
Edition description: Softcover reprint of the original 1st ed. 1995
Pages: 111
Product dimensions: 6.10(w) x 9.25(h) x 0.01(d)

Table of Contents

1. Initial Public Offerings: An Introduction.- 2. History, Regulation, and Process.- 3. Empirical Findings.- Domestic Common Sk.- Foreign Common Sk.- Bonds.- Investment Company/Other Offerings.- Summary.- 4. Theoretical Models of IPOs.- Adverse Selection.- Principal-Agent.- Signalling.- Heterodox Explanations.- Other IPO Models.- 5. Testing Theories of Underpricing.- 6. Conclusion.- Endnotes.
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