New tool can help investors identify companies most likely to pay dividends or repurchase stock
Gerard Hoberg, associate professor of finance, on the Facebook IPO:
Leigh Anenson, associate professor of business law, received her JD from the University of Akron School of Law. Her research involves rethinking the role of ancient equity in contemporary court practice in the United States.
Research by Gerard Hoberg and Gordon Phillips
Research by Gerard Hoberg
UNDERPRICING IS COMMON IN INITIAL PUBLIC OFFERINGS—TO A CERTAIN EXTENT, IT MAY BE DIFFICULT TO AVOID. BUT SOME FIRMS CONSISTENTLY SELL NEW STOCK ISSUES AT A MUCH GREATER DISCOUNT THAN OTHERS. IS THIS PHENOMENON DRIVEN BY PURELY COMPETITIVE FORCES, OR BY A SYSTEM THAT DOES NOT ADEQUATELY PROTECT IPO ISSUERS FROM PREDATORY UNDERWRITING PRACTICES?