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billyhilly billyhilly
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4 years 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

Fundamentals of Corporate Finance


Edition: 2nd
Authors:
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Matt. D.Matt. D.
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4 years ago
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billyhilly Author
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4 years ago
Thank you, thank you, thank you!
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