- 4 resultados
menor preço: € 10,85, preço mais alto: € 37,03, preço médio: € 17,84
1
Encomendar
no/na AbeBooks.com
€ 12,54
Envio: € 0,001
EncomendarLink patrocinado
Fernando Branco:

A Theory of Partial Sales and Underpricing in Privatizations: April 1991 (Classic Reprint) (Paperback) - Livro de bolso

2015, ISBN: 1332284558

[EAN: 9781332284559], New book, [PU: Forgotten Books, United States], Language: English . This book usually ship within 10-15 business days and we will endeavor to dispatch orders quicker… mais…

  - NEW BOOK Custos de envio:Free shipping (EUR 0.00) Book Depository hard to find, London, United Kingdom [63688905] [Rating: 5 (of 5)]
2
Encomendar
no/na Buecher.de
€ 10,95
EncomendarLink patrocinado

Branco, Fernando:

A Theory of Partial Sales and Underpricing in Privatizations - Livro de bolso

ISBN: 9781332284559

Excerpt from A Theory of Partial Sales and Underpricing in Privatizations: April 1991 This paper develops a theory of gradual sales and underpricing of shares in privatizations. Gradual s… mais…

  - Nr. 43557145 Custos de envio:, , zzgl. Versandkosten, mais custos de envio
3
Encomendar
no/na alibris.com
€ 37,03
EncomendarLink patrocinado
Branco, Fernando:
A Theory of Partial Sales and Underpricing in Privatizations: April 1991 (Classic Reprint) - Livro de bolso

2015

ISBN: 9781332284559

Trade paperback, We ship with delivery confirmation worldwide. We answer all e-mails within one business day., New., Trade paperback (US). Glued binding. Contains: Illustrations, black & … mais…

  - Custos de envio:mais custos de envio Through The Stacks LLC
4
A Theory of Partial Sales and Underpricing in Privatizations - Fernando Branco
Encomendar
no/na Blackwells.co.uk
£ 9,57
(aproximadamente € 10,85)
Envio: € 0,001
EncomendarLink patrocinado
Fernando Branco:
A Theory of Partial Sales and Underpricing in Privatizations - Livro de bolso

ISBN: 9781332284559

paperback

  - in stock Custos de envio:Usually dispatched within 7 days (EUR 0.00) Blackwells.co.uk

1Como algumas plataformas não transmitem condições de envio e estas podem depender do país de entrega, do preço de compra, do peso e tamanho do artigo, de uma possível adesão à plataforma, de uma entrega directa pela plataforma ou através de um terceiro fornecedor (Marketplace), etc., é possível que os custos de envio indicados pelo eurolivro não correspondam aos da plataforma ofertante.

Dados bibliográficos do melhor livro correspondente

Pormenores referentes ao livro
A Theory of Partial Sales and Underpricing in Privatizations

Excerpt from A Theory of Partial Sales and Underpricing in Privatizations: April 1991

This paper develops a theory of gradual sales and underpricing of shares in privatizations. Gradual sales and underpricing are strategic devices used by policymakers to signal commitment when the capital markets are unsure about the governments type and attempt to infer it from observed performance. The model establishes for which firms the use of underpricing is optimal. Further, in the context of a multiple firm model, the question of when gradual sales can be abandoned is analyzed.

1 Introduction

Among other things, the Eighties will be remembered as the decade of privatization: the selling of state assets is taking place at the same time almost everywhere. Perhaps surprisingly, most privatization programs seem to display important similarities. It is. for instance, true that, during the initial stages of the program, governments frequently use partial sales. Although a number of reasons has been offered, ranging from seller inexperience to stock-market liquidity constraints, none of these provides a completely satisfactory explanation. Also, it has been reported that the underpricing of shares in privatizations is significantly and consistently larger than the average underpricing occurring in the private sector initial public offers. Jenkinson and Mayer (1988), measuring discounts of issue price in relation to offer prices at the end of the first trading day, note that only 5 out of 23 of the discounts in privatizations in France and the U.K. were in single figures, which are consistent with the underpricing in private IPOs for the two countries. This is particularly intriguing because state owned corporations are usually well known to the public, and the government, unlike shareholders of private corporations, should not have to pay the underwriters for risks that it is better placed to assume.

In this paper we investigate why gradual sales and underpricing of shares may be optimal features in the design of privatization plans.- Our explanation relies on the fact that governments, unlike any other seller of an asset, can interfere with the activities of the firm after privatization and change the ex-post contractual rights of the new owners.

About the Publisher

Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com

This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Dados detalhados do livro - A Theory of Partial Sales and Underpricing in Privatizations


EAN (ISBN-13): 9781332284559
ISBN (ISBN-10): 1332284558
Livro de bolso
Ano de publicação: 2015
Editor/Editora: Forgotten Books, United States

Livro na base de dados desde 2015-08-25T17:47:21+01:00 (Lisbon)
Página de detalhes modificada pela última vez em 2017-10-01T01:16:41+01:00 (Lisbon)
Número ISBN/EAN: 1332284558

Número ISBN - Ortografia alternativa:
1-332-28455-8, 978-1-332-28455-9


< Para arquivar...