1st Edition
Routledge Revivals: The Efficiency of New Issue Markets (1992)
By Kyran McStay
Copyright 1992
148 Pages
by
Routledge
148 Pages
by
Routledge
148 Pages
by
Routledge
Also available as eBook on:
First published in 1992, The Efficiency of New Issue Markets provides a comprehensive overview of under-pricing and through this assess the efficiency of new issue markets. The book provides a further theoretical development of the adverse selection model of the new issue market and addresses the hypothesis that the method of distribution of new issues has an important bearing on the efficiency... Read more
1. The Efficiency of New Issue Markets: Introduction
2. The Adverse Selection Model of the New Issue Market
3. Distribution and the Efficiency of New Issue Markets
4. Testing the Efficiency of New Issue Markets
5. Distribution and the Efficiency of New Issue Markets in the US and the UK
6. Summary and Conclusions
Appendix 1: The Nature of the Information Asymmetry
Appendix 2: Mathematical Appendix
Appendix 3: Hot Issue Markets
Biography
Kyran McStay
