Finance & Investing · Banking & Financial Institutions
A topic within Banking & Financial Institutions, itself one of 11 topics in that field and part of Finance & Investing.
2 works
Jay R. Ritter
Measures the two costs a company pays to sell shares for the first time — the underwriter's spread and the money left on the table from underpricing — and finds the second, indirect cost is often larger than the fee the bank openly charges.
Lawrence M. Benveniste & Paul A. Spindt
Models IPO bookbuilding as a mechanism for extracting truthful demand information from investors who would otherwise have every incentive to understate their interest and pay less.