برچسب: Initial Public
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Aggarwal And Conroy-Price Discovery In Initial Public Offerings And The Role Of The Lead Underwri
Conroy-Price We examine the price discovery process of initial public offerings ~IPOs! using a unique dataset. The first quote entered by the lead underwriter in the five-minute preopening window explains a large roportion of initial returns even for hot IPOs. Significant learning and price scovery continues to take place during ese five minutes with hundreds of quotes being entered. […]