Empirical Tests of the Signaling and Monitoring Hypotheses for Initial Public Offerings
Description:
The research questions investigated are: 1. Are the expected post-issue fractional holdings of the directors and officers, venture capitalists and institutions signals of firm value? 2. Are the expected post-issue fractional holdings of the directors and officers, venture capitalists and institutions signals of underpricing? and 3. Are the directors and officers, venture capitalists and institutions monitors of IPO investments? The signaling theory developed by Grinblatt and Hwang (1989) (GH) a…
more
Date:
May 2006
Creator:
Gordon, Sean Anthony Garnet