Initial Public Offerings: Findings and Theories

Initial public offerings (IPOs) play a crucial role in allocating resources in market economies. Because of the enormous importance of IPOs, an understanding of how IPOs work is fundamental to an understanding of financial markets generally. Of particular interest is the puzzling existence of high i...

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Bibliographic Details
Main Authors: Anderson, Seth, Beard, T. Randolph (Author), Born, Jeffery A. (Author)
Format: eBook
Language:English
Published: New York, NY Springer US 1995, 1995
Edition:1st ed. 1995
Series:Innovations in Financial Markets and Institutions
Subjects:
Online Access:
Collection: Springer Book Archives -2004 - Collection details see MPG.ReNa
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505 0 |a 1. Initial Public Offerings: An Introduction -- 2. History, Regulation, and Process -- 3. Empirical Findings -- Domestic Common Stock -- Foreign Common Stock> -- Bonds -- Investment Company/Other Offerings -- Summary -- 4. Theoretical Models of IPOs -- Adverse Selection -- Principal-Agent -- Signalling -- Heterodox Explanations -- Other IPO Models -- 5. Testing Theories of Underpricing -- 6. Conclusion -- Endnotes 
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520 |a Initial public offerings (IPOs) play a crucial role in allocating resources in market economies. Because of the enormous importance of IPOs, an understanding of how IPOs work is fundamental to an understanding of financial markets generally. Of particular interest is the puzzling existence of high initial returns to equity IPOs in the United States and other free-market economies. Audience: Designed for use by anyone wishing to perform further academic research in the area of IPOs and by those practitioners interested in IPOs as investment vehicles