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| Author: | Alli, K. Yau, J. Yung, K. |
| Title: | The underpricing of IPOs of financial institutions |
| Journal: | Journal of Business Finance and Accounting
1994 : OCT, VOL. 21:7, p. 1013-1030 |
| Index terms: | FINANCIAL INSTITUTIONS PRICING INITIAL PUBLIC OFFERINGS |
| Language: | eng |
| Abstract: | This paper examines the underpricing of IPOs of financial institutions over the period 1983 to 1987. Based on a sample of 185 banks and savings and loan associations and a control sample of 1.361 industrial firms, results indicate that in general IPOs of financial institutions are significantly less underpriced than those of the non-financial institutions. S&L conversions are discussed. |
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