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

Business & Finance, Economics
Cover of the book Routledge Revivals: The Efficiency of New Issue Markets (1992) by Kyran McStay, Taylor and Francis
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Author: Kyran McStay ISBN: 9781351273022
Publisher: Taylor and Francis Publication: February 5, 2018
Imprint: Routledge Language: English
Author: Kyran McStay
ISBN: 9781351273022
Publisher: Taylor and Francis
Publication: February 5, 2018
Imprint: Routledge
Language: English

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.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

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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