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IPO pricing and allocation: a survey of the views of institutional investors.

Abstract:

Despite the central importance of investors to all initial public offering (IPO) theories, relatively little is known about their role in practice. This article is based on a survey of how institutional investors assess IPOs, what information they provide to the investment banking syndicate, and the factors they believe influence allocations. We find that investor characteristics, in particular brokerage relationships with the bookrunner, are perceived to be the most important factors influen...

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Publication status:
Published
Peer review status:
Peer reviewed

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Publisher copy:
10.1093/rfs/hhn079

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Institution:
University of Oxford
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Institution:
University of Oxford
Publisher:
Oxford University Press Publisher's website
Journal:
Review of Financial Studies Journal website
Volume:
22
Issue:
4
Publication date:
2009
DOI:
URN:
uuid:5201a254-560c-4c33-bc9d-8853836461be
Local pid:
oai:economics.ouls.ox.ac.uk:14296
Language:
English

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