A market microstructure explanation of IPOs underpricing
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Other versions of this item:
- Leoni, Patrick L., 2008. "A market microstructure explanation of IPOs underpricing," Economics Letters, Elsevier, vol. 100(1), pages 47-48, July.
References listed on IDEAS
- Leite, Tore, 2005. "Returns to sentiment investors in IPOs," Economics Letters, Elsevier, vol. 89(2), pages 222-226, November.
- Rock, Kevin, 1986. "Why new issues are underpriced," Journal of Financial Economics, Elsevier, vol. 15(1-2), pages 187-212.
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- Guillermo Yañez & Carlos Maquieira, 2009. "Rendimiento de Ofertas Públicas Iniciales de Acciones en Chile: Evidencia Empírica entre 1994 y 2007," Serie de Documentos de Trabajo 02, Superintendencia de Valores y Seguros.
More about this item
KeywordsIPO underpricing; first-price auction; risk aversion; firm' communication;
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
NEP fieldsThis paper has been announced in the following NEP Reports:
- NEP-ALL-2007-10-13 (All new papers)
- NEP-BEC-2007-10-13 (Business Economics)
- NEP-CFN-2007-10-13 (Corporate Finance)
- NEP-EXP-2007-10-13 (Experimental Economics)
- NEP-FMK-2007-10-13 (Financial Markets)
- NEP-MST-2007-10-13 (Market Microstructure)
- NEP-UPT-2007-10-13 (Utility Models & Prospect Theory)
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