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Comment: A Study of Underwriters' Experience with Unseasoned New Issues

Published online by Cambridge University Press:  19 October 2009

Edward A. Nelson
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Extract

The financial management area has come a long way since Fred Weston in 1954 (Journal of Finance) called for more research in and application of financial theory. Now, Neuberger and Hammond advance investment theory by empirical studies in an area which has received little direct attention. Their researching of new issues' price behavior provides application of observed facts to substantiate policy recommendations framed within a certain investment psychology structure.

Type
Research Article
Information
Journal of Financial and Quantitative Analysis , Volume 9 , Issue 2 , March 1974 , pp. 179 - 180
Copyright
Copyright © School of Business Administration, University of Washington 1974

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References

1 Reilly, Frank K., “Further Evidence on Short-Run Results for New Issues Investors,” Journal of Financial and Quantitative Analysis (January 1973), p. 88Google Scholar. His Table 2 contains this information:

Average Percent Changes in New Issues Offered Prior to a Declining Stock Market…