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How investment bankers determine the offer price and allocation of new issues

Journal of Financial Economics · 1989 · Vol. 24(2) · pp. 343–361
Lawrence M. BenvenistePaul A. Spindt
Corporate Finance and GovernanceAuditing, Earnings Management, GovernanceFinancial Markets and Investment StrategiesUnderwritingInvestment bankingBusinessInvestment (military)Initial public offeringFinanceMicroeconomicsEconomicsFinancial economicsActuarial science
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1,884
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20.49
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99%
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References
Investment banking, reputation, and the underpricing of initial public offerings
Journal of Financial Economics · 1986 · 2,590 citations
Why new issues are underpriced
Journal of Financial Economics · 1986 · 2,797 citations
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