Ipo Market Timing

The Society for Financial Studies

IPO Market Timing Author(s): Aydoğan Alti Source: The Review of Financial Studies, Vol. 18, No. 3 (Autumn, 2005), pp. 1105-1138 Published by: Oxford University Press. Sponsor: The Society for Financial Studies. Stable URL: http://www.jstor.org/stable/3598087 Accessed: 10/04/2010 08:09
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IPO Market Timing
AydoganAltl University of Texas at Austin
I develop a model of information spillovers in initial public offerings (IPOs). The outcomes of pioneers ' IPOs reflect participating investors ' private information on common valuation factors. This makes the pricing of subsequentissues relativelyeasier and attracts more firms to the IPO market. I show

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