haku: @freeterm mutual funds / yhteensä: 29
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Tekijä:Johnson, W.C.
Marietta-Westberg, J.
Otsikko:The distribution of IPO holdings across institutional mutual funds
Lehti:Journal of Business Ethics
2009 : VOL 90:2 p. 119-128
Asiasana:initial public offerings
banks
investment banks
funds
pricing
Vapaa asiasana:mutual funds
institutional holdings
Kieli:eng
Tiivistelmä:Initial public offering holdings in the mutual funds of four large investment banks and five large non-investment banks are examined in this paper. The data is collected from the years 1997-2002. It is found that investment banks hold IPOs with different characteristics than non-investment banks. Investment banks hold IPOs outside the fund objective in 27 % of the fund/IPO pairs while non-investment banks hold outside their objective in just 5,4 % of them. Also significant differences in IPO underpricing is found.
SCIMA tietueen numero: 272744
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