Despite their theoretical efficiency in selling shares to the public, auctions are not the preferred mechanisms of issuers in Initial Public Offerings (IPOs). Chemmanur and Liu (2006) and Sherman (2005) provide a rational explanation for this quot;IPO auction puzzlequot; based on the notion that...

Despite their theoretical efficiency in selling shares to the public, auctions are not the preferred mechanisms of issuers in Initial Public Offerings (IPOs). Chemmanur and Liu (2006) [WP] and Sherman (2005) [JFE 78, 615-649] provide a rational explanation for this quot;IPO auction puzzlequot;...

We survey 54 corporate Commercial Paper (CP) issuers from eleven European countries in order to analyse the perceived benefits and obstacles of internet platforms for issuing CP in Europe. The lack of a joint initiative of large CP issuers, close relations to banks and the fact that liquidity is...

Despite their theoretical efficiency in selling shares to the public, auctions are not the preferred mechanisms of issuers in Initial Public Offerings (IPOs). Chemmanur and Liu (2006) [WP] and Sherman (2005) [JFE 78, 615-649] provide a rational explanation for this "IPO auction puzzle". They...

In den späten 90er Jahren entstanden zahlreiche internetbasierte Intermediäre mit dem Ziel, eine transparentere, kostengünstigere und marktnähere Emission von Wertpapieren zu ermöglichen. Während sich im Bereich festverzinslicher Wertpapiere einige Emissionsplattformen als Alternative zu...