Routledge Revivals: The Efficiency of New Issue Markets (1992)

Kyran McStay (Autor)

Buch | Softcover

144 Seiten

2019
Routledge (Verlag)
978-1-138-57492-2 (ISBN)

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First published in 1992, The Efficiency of New Issue Markets provides a comprehensive overview of under-pricing and through this assess the efficiency of new issue markets. The book provides a further theoretical development of the adverse selection model of the new issue market and addresses the hypothesis that the method of distribution of new issues has an important bearing on the efficiency of these markets. In doing this, the book tests the efficiency of the Offer for Sale new issue market, which demonstrates the validity of the adverse selection model and contradicts the monopsony power hypothesis. This examines the relative efficiency of the new issue markets which demonstrates the importance of distribution in determining relative efficiency.

Kyran McStay

1. The Efficiency of New Issue Markets: Introduction 2. The Adverse Selection Model of the New Issue Market 3. Distribution and the Efficiency of New Issue Markets 4. Testing the Efficiency of New Issue Markets 5. Distribution and the Efficiency of New Issue Markets in the US and the UK 6. Summary and Conclusions Appendix 1: The Nature of the Information Asymmetry Appendix 2: Mathematical Appendix Appendix 3: Hot Issue Markets

Erscheinungsdatum	01.10.2019
Reihe/Serie	Routledge Revivals
Verlagsort	London
Sprache	englisch
Maße	156 x 234 mm
Gewicht	208 g
Themenwelt	Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
Themenwelt	Wirtschaft ► Volkswirtschaftslehre ► Ökonometrie
ISBN-10	1-138-57492-9 / 1138574929
ISBN-13	978-1-138-57492-2 / 9781138574922
Zustand	Neuware