Routledge Revivals

The Efficiency of New Issue Markets (1992)

Kyran McStay

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Hardback

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English

Routledge
15 December 2017

Econometrics; Corporate finance; Investment & securities

Series: Routledge Revivals

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.

By: Kyran McStay
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 234mm, Width: 156mm,
Weight: 453g
ISBN: 9781138574908
ISBN 10: 1138574902
Series: Routledge Revivals
Pages: 144
Publication Date: 15 December 2017
Audience: College/higher education , Professional and scholarly , Further / Higher Education , A / AS level
Format: Hardback
Publisher's Status: Active

Kyran McStay