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Underpricing and entrepreneurial wealth losses in IPOs: theory and evidence


Review of Financial Studies



Authors / Editors

Habib M A,Ljungqvist A

Publication Year



An inverse relation between underpricing and IPO proceeds holds true because of dilution, even as uncertainty remains unchanged. The use of the inverse of IPO proceeds as a proxy for uncertainty may therefore be misleading.

Publication Notes

ISSN: 08939454

Available on ECCH


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