How investment bankers determine the offer price and allocation of new issues☆
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We would like to thank Narayana Kocherlakota, Robert McDonald, Jay Ritter, Clifford Smith (the editor), and participants at seminars at Duke University, Northwestern University, the University of Michigan, Boston College, the Ohio State University, the University of Utah, the Federal Reserve Bank of Chicago, the Federal Reserve Board, and the Western Finance Association meetings for their useful comments. Benveniste would like to thank Stuart Greenbaum for support from the Banking Research Center of Northwestern University.
Copyright © 1989 Published by Elsevier B.V.