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Rationing and screening in crowdinvesting-markets

Mäschle, Oliver; Dalvai, Wilfried - 2016

The allocation of shares on crowd-investing-platforms is best described by the phrase "first come, first served". An entrepreneur who sells corporate equity to a "crowd" of investors on such a platform chooses a fixed investment target before the investment period begins. Once the aggregate...

Persistent link: https://www.econbiz.de/10011441481

Insider Trading with Correlation between Liquidity Trading and a Public Signal

Nishide, Katsumasa - 2009

We analyse a Kyle-type continuous-time market model in which liquidity trading is correlated with a noisy public signal that is released continuously. We show that, in contrast to the previous literature, Kyle's lambda, the price sensitivity to the order flow, can even be nonmonotonic, depending...

Persistent link: https://www.econbiz.de/10013155987

Liquidity and Private Information in Asset Markets : To Signal or Not to Signal

Wang, Zijian - 2021

This paper examines how multidimensional private information by asset sellers affects market equilibrium. I find that when asset quality is the only source of private information, sellers with high-quality assets signal their quality to buyers through partial retention of assets if and only if...

Persistent link: https://www.econbiz.de/10013246450

Auditor certification and long-run performance of IPO stocks

Datta, Sudip; Gruskin, Mark; Iskandar-Datta, Mai E. - In: Journal of financial stability 70 (2024), pp. 1-12

Persistent link: https://www.econbiz.de/10014490475

Information Acquisition and Corporate Debt Illiquidity

Babenko, Ilona - 2018

Models based on asymmetric information predict that debt is least sensitive to private information and cannot explain the illiquidity of corporate debt in secondary markets. We analyze security design with moral hazard and offer a new explanation. First, the optimal compensation contract creates...

Persistent link: https://www.econbiz.de/10012937695

Is underpricing a signal of quality in second' initial offerings?

Cook, John P. - In: Quarterly journal of business and economics : QJBE 35 (1996) 1, pp. 67-78

Persistent link: https://www.econbiz.de/10001202404

Open market repurchase programs : evidence from Finland

Högholm, Kenneth; Högholm, Victor - In: International journal of economics and finance 9 (2017) 12, pp. 13-23

Persistent link: https://www.econbiz.de/10011782610

Effectiveness of pre-commitments on reducing asymmetrical information in equity issues

Parreño, J.; Ruiz, F.; Casanueva, C. - In: Applied economics letters 23 (2016) 10/12, pp. 863-867

Persistent link: https://www.econbiz.de/10011629170

Signaling by underpricing the initial public offerings of primary listings in an emerging market

Čornaič, Aleš; Novák, Jiri - In: Finance a úvěr 65 (2015) 4, pp. 307-335

Persistent link: https://www.econbiz.de/10011305719

Signaling by underpricing the initial public offerings of primary listings in an emerging market

Čornanič, Aleš; Novák, Jiri - 2013

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 …

Persistent link: https://www.econbiz.de/10009775653

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