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wrote...
Posts: 205
A month ago
Which of the following is NOT one of the four characteristics of IPOs that puzzle financial economists?

▸ The long-run performance of a newly public company (three to five years from the date of issue) is superior to the overall market return.

▸ The costs of the IPO are very high, and it is unclear why firms willingly incur such high costs.

▸ The number of issues is highly cyclical.

▸ On average, IPOs appear to be underpriced.
Textbook 

Fundamentals of Corporate Finance

Edition: 2nd
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wrote...
Posts: 244
A month ago
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The long-run performance of a newly public company (three to five years from the date of issue) is superior to the overall market return.
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wrote...
A month ago
Thank you, thank you, thank you!
wrote...
A month ago
You're welcome
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