Construct · 1 fields · 1 citations

information revelation theory of bookbuilding: a standalone construct

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Corporate finance

the theory that IPO underpricing rewards institutional investors for truthfully revealing their private valuations during bookbuilding.

In corporate finance, information revelation theory of bookbuilding refers to the theory that IPO underpricing rewards institutional investors for truthfully revealing their private valuations during bookbuilding. This meaning comes from Benveniste (1989) in Journal of Financial Economics.[1]

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Nearby constructs

information4 fields · 5 citationsjingle · one word, four constructs IPO underpricing1 fields · 1 citationsanchor · a standalone construct revelation2 fields · 3 citationsjingle · one word, two constructs

References

Benveniste, L. M., & Spindt, P. A. (1989). How investment bankers determine the offer price and allocation of new issues. Journal of Financial Economics, 24(2), 343-361. https://doi.org/10.1016/0304-405x(89)90051-2

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