The Efficient IPO Market Hypothesis: Theory and Evidence
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DOI: 10.1017/s0022109019000784
Abstract: We derive the optimal underwriting method and the quantitative initial public offering (IPO) pricing rule that this method implies in a market with informational frictions consisting of fully rational banks, issuers, and investors. In an… read more here.
Keywords: ipo market; hypothesis theory; efficient ipo; market hypothesis ... See more keywords