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Going public: The theory and evidence on how companies raise equity finance

Abstract:

Revised edition surveys and synthesizes the academic research on initial public offerings (IPOs), drawing evidence from different countries. Introduces the main stages involved in conducting an IPO. Focuses on explaining three puzzling empirical regularities: first-day trading prices of IPOs typically exceed the price at which shares were offered to investors; there are cycles both in the extent of such underpricing and in the volume of IPOs over time; and the long-run performance of IPOs see...

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Publication date:
2001-01-01
URN:
uuid:7eb63372-4929-4519-adeb-f6d8332c18ce
Local pid:
oai:economics.ouls.ox.ac.uk:9473
Language:
English

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