G2TT
来源类型Discussion paper
规范类型论文
来源IDDP2513
DP2513 The Demand for Private Medical Insurance in the UK: A Cohort Analysis
Carol Propper; Hedley Rees
发表日期2000-07-25
出版年2000
语种英语
摘要By 1999, close to 80% of non-US IPOs were marketed using bookbuilding methods. We study whether the recent introduction of this technology by US banks and their inclusion in non-US IPO syndicates has promoted efficiency in primary equity markets. We analyse both direct and indirect costs (associated with underpricing) using a unique dataset containing information on 2,051 initial public offerings in 61 non-US markets during the period 1992-1999. The direct costs of bookbuilding are typically twice as large as direct costs for fixed-price offers. However, bookbuilding leads to substantially less underpricing. This benefit is more pronounced when the target market includes US investors, when Us listing is sought and when US banks are part of the syndicate.
主题Financial Economics
关键词Bookbuilding Initial public offerings Underwriting spreads
URLhttps://cepr.org/publications/dp2513
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/531588
推荐引用方式
GB/T 7714
Carol Propper,Hedley Rees. DP2513 The Demand for Private Medical Insurance in the UK: A Cohort Analysis. 2000.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Carol Propper]的文章
[Hedley Rees]的文章
百度学术
百度学术中相似的文章
[Carol Propper]的文章
[Hedley Rees]的文章
必应学术
必应学术中相似的文章
[Carol Propper]的文章
[Hedley Rees]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。