Publikationer
A Note on the Pricing of IPOs
Redaktör:
- Eric Maskin (Professor)
Avdelning/ar:
Publiceringsår: 2010
Språk: Engelska
Sidor: 105-107
Publikation/Tidskrift/Serie: Economics Letters
Volym: 106
Nummer: 2
Dokumenttyp: Artikel
Förlag: Elsevier
Sammanfattning
This paper studies the pricing of IPOs in a tractable model in which an investment bank faces some investors with superior information. We show how this can lead to underpricing and, based on our model, we make a number of empirical predictions.
Disputation
Nyckelord
- Business and Economics
- Risk aversion
- Monopoly pricing
- IPO underpricing
- Fixed-price auction
Övrigt
Published
Yes
- ISSN: 0165-1765
