What have you done for me lately? Buying favorite status prior to hot IPOs.
SSRN-Are Trading Commissions a Factor in IPO Allocation? by Mahendrarajah Nimalendran, Jay Ritter, Donghang Zhang
Short Version:
How investment bankers allocate hot IPOs is the focus of this paper by Nimalendran, Ritter, and Zhang. The paper presents evidence of abnormally high trading volume in other (non IPO) stocks
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