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- W2182733089 abstract "Using word content analysis on IPO prospectuses, we show that the liability risk associated with strategic non-disclosure of information can be mitigated by underpricing. This tradeo explains a signicant fraction of the variation in prospectus revision patterns, the partial adjustment phenomenon, and litigation outcomes. By examining ex-post litigation and involvement by IPO shareholders, we nd that both high initial returns and increased disclosure serve as strong hedges against costly outcomes. Underwriters are the primary beneciaries" @default.
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- W2182733089 date "2010-01-01" @default.
- W2182733089 modified "2023-09-27" @default.
- W2182733089 title "Are Strategic Disclosure and Underpricing Decisions Inuenced by Liability Risk" @default.
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