The influence of lock-up provisions on IPO initial returns: Evidence from an emerging market
A lock-up agreement ensures that major shareholders retain significant economic interest in the companies following the IPOs. Rationally, these insiders will not adhere to the lock-up agreement unless the benefits of doing so can more than offset the costs. Therefore, in an environment characterized...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier B.V.
2014
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| Subjects: | |
| Online Access: | https://repo.uum.edu.my/id/eprint/18858/1/ES%2038%202014%20487-501.pdf |