Barth, James; Page, Daniel; Jahera, John - In: Journal of Economics and Finance 23 (1999) 1, pp. 15-22
This paper examines the issue of underpricing for converting thrift institutions. Evidence has found this underpricing to be pervasive in the mutual-to-stock thrift conversion process. The issue is of importance given the debate over whether any windfall gains should accrue to depositors,...