haku: @author Dunbar, C. G. / yhteensä: 1
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| Tekijä: | Dunbar, C. G. |
| Otsikko: | The choice between firm-commitment and best-efforts offering methods in IPOs: The effect of unsuccesfull offers. |
| Lehti: | Journal of Financial Intermediation
1998 : JAN, VOL. 7:1, p. 60-90 |
| Asiasana: | INITIAL PUBLIC OFFERINGS NEW ISSUES |
| Kieli: | eng |
| Tiivistelmä: | The author notes that previous research questions the use of best-efforts offering methods for IPOs since firm-commitment offerings have lower direct issue costs. The article attemts to explain the choice of best-efforts methods by focusing on an indirect offering cost: the possibility that an offering will be unsuccessful. Determinants of offering success, including offering size, price, underwriter reputation and the clustering of filings, have different impacts on the likelihood of success for these offering methods. |
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