Estimating CAPM beta coefficients using regression analysis is an effective means of introducing graduate students in business administration to the nuts and bolts of modern portfolio theory and asset pricing models. More often than not, the computational platform of choice is the Microsoft...

An examination of the pricing of new issues of equity in several regions of the world reveals significantly more underpricing of initial public offerings of privatizations (PIPOs) than private-sector initial public offerings (IPOs). This finding is consistent with a model of new issue pricing...

Empirical analyses of the pricing of new issues of common stock in equity markets all over the world reveal significantly larger underpricing of privatizations than ordinary initial public offerings. A model of new issue pricing which is consistent with this empirical regularity is developed in...