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Recent papers have proposed a link between underpricing of an initial public offering (IPO) and the resulting ownership structure of the firm. Brennan and Franks (1997) hypothesize that IPO managers want to discourage new blockholdings to reduce the likelihood of being monitored. They show that...
Persistent link: https://www.econbiz.de/10012786582
Recent papers have proposed a link between underpricing of an initial public offering (IPO) and the resulting ownership structure of the firm. Brennan and Franks (1997) hypothesize that IPO managers want to discourage new blockholdings to reduce the likelihood of being monitored. They show that...
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