Risk, Reputation, and the Price Support of IPOs
Immediately following public offerings, underwriters often repurchase shares of poorly performing IPOs in an apparent attempt to stabilize the price. Using proprietary Nasdaq data for a large sample of IPOs, I study the price effects and cross-sectional determinants of price support. Some of the key...
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| Format: | Working Paper |
| Language: | en_US |
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2004
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| Online Access: | http://hdl.handle.net/1721.1/5055 |