全球智库信息集成服务系统(G2TT): A Review of IPO Activity, Pricing, and Allocations

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w8805
来源ID	Working Paper 8805
	A Review of IPO Activity, Pricing, and Allocations
	Jay Ritter; Ivo Welch
发表日期	2002-02-21
出版年	2002
语种	英语
摘要	We review the theory and evidence on IPO activity: why firms go public, why they reward first-day investors with considerable underpricing, and how IPOs perform in the long run. Our perspective on the literature is three-fold: First, we believe that many IPO phenomena are not stationary. Second, we believe research into share allocation issues is the most promising area of research in IPOs at the moment. Third, we argue that asymmetric information is not the primary driver of many IPO phenomena. Instead, we believe future progress in the literature will come from non-rational and agency conflict explanations. We describe some promising such alternatives.
主题	Financial Economics ; Financial Institutions
URL	https://www.nber.org/papers/w8805
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/566412
推荐引用方式 GB/T 7714	Jay Ritter,Ivo Welch. A Review of IPO Activity, Pricing, and Allocations. 2002.