McStay, K: : The Efficiency of New Issue Markets (1992)
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- Englisch ausgewählt
Fr. 132.00
inkl. gesetzl. MwSt.,
Beschreibung
Produktdetails
Einband
Gebundene Ausgabe
Erscheinungsdatum
15.12.2017
Verlag
Taylor & FrancisSeitenzahl
144
Maße (L/B)
23.4/15.6 cm
Gewicht
430 g
Sprache
Englisch
ISBN
978-1-138-57490-8
First published in 1992, The Efficiency of New Issue Markets provides a theoretical discussion of the adverse selection model of the new issue market. It 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 and in turn demonstrates the importance of distribution in determining relative efficiency. The book provides a comprehensive overview of under-pricing and through this assesses the efficiency of new issue markets.
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