Huibers, Fred E. - In: Journal of risk and financial management : JRFM 13 (2020) 6/115, pp. 1-14
auctions for IPO pricing and allocation. IPO firms face a trade-off between the benefit of accurate and reliable IPO price … measuring the impact of two key variables on this trade-off: capacity restraint and discount on the auction clearing price … consequently, the most predictable auction outcome. There are indications that a discount of 8% may suffice to incentivize …