The Initial Public Offering from a Tripartite Point of View

Naoki Kojima
Additional contact information
Naoki Kojima: Toulouse University

No 1318, Econometric Society World Congress 2000 Contributed Papers from Econometric Society

Abstract: Existing literature on initial public offerings of a firm's stock has taken into analysis only two parties of the issuer, the underwriter, the informed investor, either by neglecting one party for simplification or uniting it with another one as if they pursue the unique interests by forming a coalition. In point of fact, the issuer, the underwriter, the informed investors are separate entities. They have often conflicting objectives each other and act in a different and independent manner to seek for profits of their own by making the most of their information. The present article explicitly introduces into enquiry the aspect of the tripartite conflicting interests of initial public offerings and investigates the effects.

Date: 2000-08-01
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://fmwww.bc.edu/RePEc/es2000/1318.pdf main text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ecm:wc2000:1318

Access Statistics for this paper

More papers in Econometric Society World Congress 2000 Contributed Papers from Econometric Society Contact information at EDIRC.
Bibliographic data for series maintained by Christopher F. Baum ().