Chang, Hsiu-Hua; Chen, Anlin; Kao, Lanfeng; Wu, Chin-Shun - In: International Review of Economics & Finance 29 (2014) C, pp. 83-96
It has been proven by Ljungqvist and Wilhelm (2002) that constraints on underwriters' allocation discretion reduce price revisions. The dual-tranche bookbuilding in Taiwan and Hong Kong imposes more regulations limiting underwriters than U.S. bookbuilding does, but price revisions of Taiwan and...
