signaling hypothesis, Chinese IPO firms exhibit increased operating/stock performance subsequent to bonus issues. Interestingly …

The signaling hypothesis suggests that firms have incentives to underprice their initial public offerings (IPOs) to … empirical evidence on the signaling hypothesis was weak, Francis et al. (2010) show that foreign firms from segmented (rather … players. Hence, the attractiveness of the signaling strategy seems to be related to the a priori level of information …

portfolios to investors. We extend the signaling model for single sales of risky assets to portfolio sales. We identify … conditions under which signaling at the portfolio level dominates signaling at the single asset level. In particular, when banks …

traditional investors. The analysis is performed within a two-period, two-state signaling model with information asymmetry between …