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Underpricing, ownership and control in initial public offerings of equity securities in the UK

Brennan, Michael J.; Franks, Julian R. - 1995

Persistent link: https://www.econbiz.de/10000554609

Underpricing, ownership and control in initial public offerings of equity securities in the UK

Brennan, Michael J.; Franks, Julian R. - In: New research in corporate finance and banking, (pp. 39-59). 2002

Persistent link: https://www.econbiz.de/10001692280

Underpricing, ownership and control in initial public offerings of equity securities in the UK

Brennan, Michael J. - In: Journal of financial economics 45 (1997) 3, pp. 391-413

Persistent link: https://www.econbiz.de/10001229280

Underpricing, Ownership and Control in Initial Public Offerings of Equity Securities in the UK

Brennan, Michael J. - 1998

In this paper we examine how separation of ownership and control evolves as a result of an IPO and how the underpricing of the issue can be used by insiders to retain control. Using data from a sample of 69 IPOs in the UK, we argue that IPO underpricing is used to ensure oversubscription and...

Persistent link: https://www.econbiz.de/10012791745