Newer Federal Commissions
نویسندگان
چکیده
منابع مشابه
Purchasing IPOs with Commissions
We find direct evidence that institutions churn stocks, increase commissions per share and pay unusually high commissions on trades in order to send abnormally high commissions to lead underwriters of upcoming IPOs. These excess commission payments are a particularly effective way for transient investors to receive lucrative IPO allocations. Our results suggest that the underwriter’s concern fo...
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ژورنال
عنوان ژورنال: American Political Science Review
سال: 1917
ISSN: 0003-0554,1537-5943
DOI: 10.2307/1944009