Why Don't Issuers Choose IPO Auctions? The Complexity of Indirect Mechanisms
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In this paper we present a comprehensive comparison of IPO placement methods in over 50 countries. We find that out of the three primary methods, fixed price public offers, auctions, and book building, auctions are least popular with issuers. Since auctions allow for price discovery while avoiding
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美国国家经济研究局创建时间：
2010-07-01
