Why are European IPOs so rarely priced outside the indicative price range?
Unlike in the U.S., the initial price range for European IPOs is seldom revised, although issues are often priced at the upper bound. We develop a model that explains this seemingly inefficient pricing behavior. As in Europe, but not in the U.S., underwriters in the model obtain information from inv...
| 主要な著者: | , , |
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| フォーマット: | Journal article |
| 出版事項: |
2006
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Why Are European IPOs So Rarely Priced Outside the Indicative Price Range?
出版事項 2006
Journal article