haku: @indexterm initial public offerings / yhteensä: 176
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| Tekijä: | Chen, Z. Wilhelm, W. J. Jr. |
| Otsikko: | A theory of the transition to secondary market trading of IPOs |
| Lehti: | Journal of Financial Economics
2008 : DEC, VOL 90:3, p. 219-236 |
| Asiasana: | initial public offerings securities auctions financial markets |
| Kieli: | eng |
| Tiivistelmä: | The purpose of the article is to examine the transition of initial public offerings (IPOs) to secondary markets. The authors build a model where banks and institutional investors collaborate in the smoothing of this transition. Under the assumption that significant new information comes to the market right after the issuing of IPOs it seems to be an optimal solution to stage the offering. Through a coordinated network of institutional investors, this optimal strategy generates an economic rationale for secondary market price stabilization for IPOs. |
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