We analyze institutional allocation in initial public offerings (IPOs) using a new dataset of US offerings between 1997 and 1998. We document a positive relatio
We analyze institutional allocation in initial public offerings (IPOs) using a new dataset of US offerings between 1997 and 1998. We document a positive relatio
In this paper, we use a large sample of transaction-level institutional trading data to analyze the role of institutional investors in initial public offerings