The conventional and informational impacts of monetary policy on the IPO market
Sign Up to like & getrecommendations! Published in 2021 at "Economics Letters"
DOI: 10.1016/j.econlet.2021.109751
Abstract: Abstract This paper provides the first investigation of the exogenous monetary shocks’ impact on the IPO market by using a high-frequency identification strategy. Contractionary shocks in the conventional sense trigger a decline in IPO activity.… read more here.
Keywords: ipo; ipo market; conventional informational; monetary policy ... See more keywords
The Efficient IPO Market Hypothesis: Theory and Evidence
Sign Up to like & getrecommendations! Published in 2020 at "Journal of Financial and Quantitative Analysis"
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