Finance and Economics Discussion Series: Initial Public Offerings in Hot and Cold Markets by Nellie Liang, Jean Helwege

Finance and Economics Discussion Series: Initial Public Offerings in Hot and Cold Markets

Nellie Liang, Jean Helwege

40 pages missing pub info (editions)

nonfiction politics
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Description

Asymmetric information models characterize hot IPO markets as periods when better quality firms have an incentive to issue equity, and cold markets when the lemons premium associated with equity is too high to draw in many issuers. Recent empirica...

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