The Different Models - IPO-Underpricing

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The Different Models

Equilibrium-Based Theses
The Winner's Curse
The equilibrium model from Rock

Ex-ante Uncertainty
The model from Beatty/Ritter

Underwriters Reputation
The modell from Carter/Manaster

Signalling
The models from Grinblatt/Hwang, Allen/Faulhaber, Welch and Chemmanur

Advanced Information of the Underwriters
Das Modell von Baron

The Venture-Capital-Industry
The model from Booth/Smith, Megginson/Weiss or Barry et al.

The Market Reputation Thesis
The model from Hunger

Ad-hoc Hypothesises
Legal Liability
Underpricing as an insurcance against legal liability (the model from Tinic)

Monopsony Power of the Underwriters
The Theses from Logue, Reilly, Ritter ordChalk/Peavy

Institutional Allocation
The theses from Hanley/Wilhelm, Aggarwal et al. or Ljungqvist

Underwirters Price Support
The thesis from Ruud

Prospect Theory
The thesis from Loughran/Ritter

Speculative Bubbles and Irrational Behavior

Hot-Issue Markets
The thesis from Ritter
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