IPO Auctions: English, Dutch, ... French, and Internet

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26 BIAIS AND FAUGERON-CROUZET FIG. 2. OLS regression of price adjustment on strength of dem<strong>and</strong>, 92 Mises en Vente, 1983–1996.
<strong>IPO</strong> AUCTIONS 27 FIG. 3. OLS regression of underpricing on price adjustment, 92 Mises en Vente, 1983–1996.
Page 1 and 2: Journal of Financial Intermediation
Page 3 and 4: IPO AUCTIONS 11 TABLE 1 IPO Selling
Page 5 and 6: IPO AUCTIONS 13 with the empirical
Page 7 and 8: IPO AUCTIONS 15 that the others wil
Page 9 and 10: IPO AUCTIONS 17 investor has the po
Page 11 and 12: IPO AUCTIONS 19 First note that con
Page 13 and 14: IPO AUCTIONS 21 FIG. 1. Buy orders
Page 15 and 16: IPO AUCTIONS 23 Consistent with our
Page 17: IPO AUCTIONS 25 TABLE 3 IPO price R
Page 21 and 22: IPO AUCTIONS 29 investor’s anonym
Page 23 and 24: p(0) = v0, this can be rewritten as
Page 25 and 26: IPO AUCTIONS 33 Her task is to choo
Page 27 and 28: IPO AUCTIONS 35 Cornelli, F., and G

IPO Auctions: English, Dutch, ... French, and Internet

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