Chen, Hsuan-Chi; Ho, Keng-Yu - In: Finance Research Letters 6 (2009) 3, pp. 159-170
We set out in this study to examine whether investors can improve their investment opportunity sets through the addition of an IPO index portfolio into various sets of benchmark portfolios. Using the IPOX indices from the years 1980-2006, we find that adding an IPO index portfolio does lead to a...
