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IPO pricing and allocation: a survey of the views of institutional investers

Abstract:

Despite the central importance of investors to all IPO theories, relatively little is known about their role in practice. In this paper we survey institutional investors about how they assess IPOs, what information they provide to the investment banking syndicate, and the factors they believe influence allocations. Although the theoretical IPO literature has tended to focus on information revelation, the survey raises doubts as to the extent of incremental information production and whether b...

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Publication status:
Published

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Publisher:
University of Oxford Publisher's website
Series:
Department of Economics Discussion Paper Series
Publication date:
2006-12-01
Paper number:
2006-FE-13
Pubs id:
1144134
Local pid:
pubs:1144134
Deposit date:
2020-12-15

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