Initial Public Offerings Research has shown that managers of newly listed firms rein in their capital expenditure
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Initial Public Offerings Research has shown that managers of newly listed firms rein in their capital expenditure plans if the market share price performance is not particularly strong around the IPO date. This is regularly put down to ‘poor market sentiment’. Is this evidence that corporate managers believe in efficient markets, behavioural finance or both? Explain.
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Corporate Finance
ISBN: 9780077173630
3rd Edition
Authors: David Hillier, Stephen A. Ross, Randolph W. Westerfield, Bradford D. Jordan, Jeffrey F. Jaffe
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