Virtually all Initial Public Offering (IPO) prospectuses feature lockup provisions that limit pre-IPO shareholders’ share sale for some period of time after negotiations start. The aim of this article is to analyse voluntary lockups in Italy. We show that lockups are considerably longer and...

We analyze empirical share allocation practices in Italian IPOs, which are run as two separate offerings, one for retail investors who submit unconditional binding orders and another for institutional investors who submit only indications of interest. The effective allocation proportion between...

Gläubigerschutz im Recht der Kapitalgesellschaften als Sozialschutz? Wurden Vertragsgläubiger von Lehre und Rechtssprechung als einfache Verbraucher, die den Schutz der Rechtsordnung gegen die Ohnmacht ihrer professionellen Vertragsparteien brauchen, betrachtet? Wurde der Kreditmarkt wegen...

"Delving into the comprehensive evolution of Initial Coin Offerings (ICOs), this innovative book traces their origins and transition into modern forms such as Security Token Offerings, Initial Exchange Offerings, Initial DEX Offerings and Non-Fungible Tokens. It provides an in-depth analysis of...

This paper estimates the readiness of the accession countries of Central and Eastern Europe for EMU or unilateral euroization using a fuzzy clustering algorithm. The variables to which the algorithm is applied are suggested alternately by the criteria in the Maastricht Treaty (nominal...