The small IPO and the investing preferences of mutual funds
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DOI: 10.1016/j.jcorpfin.2017.08.008
Abstract: We examine how liquidity and return concerns at large mutual funds explain their diminished participation in small IPOs since the late 1990s. Using 5825 IPOs and portfolio-level information for 37,052 funds, we exploit Russia's 1998… read more here.
Keywords: ipo investing; liquidity; mutual funds; investing preferences ... See more keywords