On the Marketing of IPOs
- Topics:
- Commercial Banking,
- Marketing Strategy
- Tags:
- Finance,
- Financial Planning,
- Financial Services,
- Investment,
- Investment Banker,
- IPO,
- Marketing,
- University Of Mississippi
- Source:
- University of Mississippi
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Overview: This paper argues that the promotional efforts of investment bankers should influence the valuation of an IPO, its initial returns, the wealth gains of inside shareholders, and the likelihood that an issuer will switch investment bankers for a subsequent seasoned equity offering. Examining data on a sample of IPOs from 1993 through 2000, evidence is found consistent with these predictions. Consequently, the authors' provide evidence that the ability of an investment banker to marketing an IPO to retail investors is important to issuers, and thereby to investment bankers.
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Format: PDF | Size: 226KB | Date: Aug 2004 | Pages: 50
