Do Institutions Receive Favorable Allocations in IPOs with Better Long-Run Returns?
We analyze allocations to institutional and retail investors in 441 initial public offerings (IPOs). In addition to the well-known favorable first-day returns, we show that institutions also obtain more allocations in IPOs with better long-term performance. We find that initial institutional flips h...
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| Main Authors: | , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2006
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/4663 https://doi.org/10.1017/S0022109000002659 |
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| Institution: | Singapore Management University |
| Language: | English |