The short-run equity underpricing puzzle in South Africa with an emphasis on the winner's curse hypothesis
One of the puzzles regarding IPO’s is that the issuers rarely get upset about leaving substantial amounts of money on the table due to underpricing. The cost of underpricing is the number of shares sold multiplied by the difference between the first-day closing price and the offer price. The researc...
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| Format: | Others |
| Language: | en |
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2009
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| Online Access: | http://hdl.handle.net/10539/6853 |