Evidence on the strategic allocation of initial public offerings

Article Abstract:

Institutional investors are likely to acquire a significant fraction of short-run profits associated with initial public offerings (IPOs). This was evident, however, only upon an explicit understanding that institutional investors will be active participants in less attractive underpriced offerings. The observation is based on distribution data for a sample of 38 IPOs managed by an underwriter from 1983-1988.

Research, Institutional investments

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Bounds on contingent claims based on several assets

Article Abstract:

A distribution-free technique is derived to produce an upper bound for European call alternatives on the maximum of various underlying assets. The bound is shown in terms of the methods, variances, and relation coefficients of these underlying assets. The approach can handle arbitrary price processes and is able to decrease the effect of model misspecification.

Evaluation, Options (Finance), Stochastic processes

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Why are European IPOs so rarely priced outside the indicative price range?

Article Abstract:

Iniatial public offerings pricing behavior in Europe and influential factors are examined by developing a model.

Europe, Forecasts, trends, outlooks, Commodity & service prices, Prices and rates, Forecasts and trends, Market trend/market analysis, Company public offering, Company pricing policy, Product price

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