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IPO Pricing in the Dot-Com Bubble: Complacency or Incentives

Ljungqvist, Alexander P. et al.
NYU Faculty Digital Archive · Papers
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IPO initial returns reached astronomical levels during 1999-2000. We show that the regime shift in initial returns and other elements of pricing behavior can be at least partially accounted for by a variety of marked changes in pre-IPO ownership structure and insider selling behavior over the period
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