Keck Graduate Institute, Claremont, California, United States of America.
PLoS One. 2013 May 17;8(5):e61474. doi: 10.1371/journal.pone.0061474. Print 2013.
In this study, we examine how initial public offerings (IPO) entry rates are affected when stock markets are boundedly rational and IPO firms infer information from their counterparts in the market. We hypothesize a curvilinear relationship between the number of comparable stocks and initial public offerings (IPO) entry rates into the NASDAQ Stock Exchange. Furthermore, we argue that trading volume and changes in stock returns partially mediates the relationship between the number of comparable stocks and IPO entry rates. The statistical evidence provides strong support for the hypotheses.
在这项研究中，我们考察了当股票市场是有限理性的并且首次公开募股（IPO）公司从市场中的同行那里推断信息时，首次公开募股（IPO）进入率是如何受到影响的。我们假设在纳斯达克股票交易所的可比股票数量和首次公开募股（IPO）进入率之间存在一种曲线关系。此外，我们认为交易量和股票回报率的变化部分中介了可比股票数量和 IPO 进入率之间的关系。统计证据为假设提供了强有力的支持。
