In this work, we study the reallocation of shares to retail and institutional investors, measured as the difference between the allocation declared before the initial public offering (IPO) and the effective allotment decided by the underwriter after the bookbuilding process. The reallocation is...

The Handbook of Research on IPOs provides a comprehensive review of the emerging trends and directions in the global initial public offerings (IPO) markets. The empirical evidence included in the book covers Europe, the US and the Far East, and presents a truly global perspective of IPO markets...

In 2000 Italy's new stock market for small fast-growing firms, the Nuovo Mercato (NM), has reached 40 listed companies. Born in June 1999 to join the Euro-NM network, the NM has now a total market capitalization which is larger than the French counterpart (the Nouveau Marche) and about 25% of...