Is IPO Underperformance a Peso Problem?
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Recent studies suggest that the underperformance of IPOs in the post-1970 sample may be a small sample effect or "Peso" problem. That is, IPO underperformance may result from observing too few star performers ex-post than were expected ex-ante. We develop a model of IPO performance that captures
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美国国家经济研究局创建时间：
2006-05-01
