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Do secondary shares in the IPO process have a negative effect on aftermarket performance?

Brau, James C; Li, Mingsheng; Shi, Jing


We revisit and extend the topic of secondary share sales and revisions in IPOs. First we test to determine if secondary share sales constitute a negative signal that is captured in aftermarket performance. We find secondary share sales in general are not

CollectionsANU Research Publications
Date published: 2007
Type: Journal article
Source: Journal of Banking and Finance
DOI: 10.1016/j.jbankfin.2006.09.016


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