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Between 1999 and 2007, WR Hambrecht has completed 19 IPOs in the U.S. using an auction mechanism. We analyze investor …
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Using a regime change setting, this paper examines whether investors flip less in bookbuilding than in auction initial … in IPOs that are managed by high reputation underwriters in bookbuilding IPOs compared to auction IPOs. The results …
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We investigate a unique dataset of Chinese IPOs from 2009 to 2012. First, we find that institutional investors who participate in multiple IPOs on a single day suffer from limited attention and submit less accurate bids. Second, we form several proxies for investor attention capacity and show...
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