A Review of IPO Activity, Pricing, And Allocations  

Oleh:

Ritter, Jay R. ; Welch, Ivo

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Journal of Finance (EBSCO) vol. 57 no. 4 (2002), page 1795-1828.
Topik: ipo; studies; stock prices; initial public offerings; rates of return; statistical analysis; theory
Fulltext: p 1795.pdf (154.67KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ88.6 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

We review the theory and evidence on IPO activity why firms go public, why they reward first - day investors with considerable underpricinh, and how IPos perform in the long rum. Our perspective is threefold : First, we believe that many IPO phenomena are not stationary. Second, we believe research into share allocation issues is the most promising area of research in IPOs at the moment. Third, we argue that asymmetric information is not the primary driver of many IPO phenomena. Instead, we believe futur progress in the literature will come from non rational and agency conflict explanamtions. We describe some promising such alternatives.

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