Pricing initial public offerings
作者： Walter Wasserfallen , Christian Wittleder
DOI: 10.1016/0014-2921(94)90023-X
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摘要: Abstract Evidence on the pricing of initial public offerings is presented for Germany. A data set 92 going publics over years 1961–1987 analyzed. On average, return from offer price to first day trading, adjusted market movements, more than 15°o. Tests several hypotheses indicate that underpricing related ex-ante uncertainty about value shares.
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