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...
|Journal Title:||Journal of economics and finance Vol. 25; no. 1; pp. 100 - 114|
|Authors:||Shawn D. Howton, Shelly W. Howton, Gerard T. Olson|