Board ownership and IPO returns

This study examines the role of the board of directors for IPO pricing irregularities. Theory suggests taht initital underpricing may be the result of asymmetric information and the long-run underperformance may be the result of managerial mismanagement of new funds due to agency conflicts. A strong...

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Journal Title: Journal of economics and finance Vol. 25; no. 1; pp. 100 - 114
Authors: Shawn D. Howton, Shelly W. Howton, Gerard T. Olson
Format: Article
Published: Spring 2001
Subjects: