IPO Pricing Analysis of Discrete Information Structure

DOI

10.2991/jahp-18.2018.34How to use a DOI?

Keywords

IPO; small and medium investors; mechanism design; information asymmetry

Abstract

Because of the different size and research strength of each institutional investor, the quantity and quality of market information are different, that is, the existence of heterogeneous institutional investors makes the distribution of new stock pricing information more complex. Issuers need to determine the corresponding pricing methods under different information distribution conditions, that is, unified pricing or differential pricing, and based on conditional probability to determine the corresponding price level, so as to maximize the issue income; Because of the participation of retail investors and the existence of callback mechanism, the under-pricing phenomenon in some cases is eliminated.

Copyright

© 2018, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Yunzhao Lu
PY  - 2018/08
DA  - 2018/08
TI  - IPO Pricing Analysis of Discrete Information Structure
BT  - Proceedings of the 3rd International Conference on Judicial, Administrative and Humanitarian Problems of State Structures and Economic Subjects (JAHP 2018)
PB  - Atlantis Press
SP  - 166
EP  - 169
SN  - 2352-5398
UR  - https://doi.org/10.2991/jahp-18.2018.34
DO  - 10.2991/jahp-18.2018.34
ID  - Lu2018/08
ER  -