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Initial Public Offerings in the Hospitality Industry: Underpricing and Overperformance

Author
Canina, Linda
Abstract
Underwriters may view the primary issue of most hotel and casino stocks as more risky than stocks of new companies generally. Still, newly issued stocks of hospitality companies have generally outperformed the market in their first year.
Date Issued
1996-10-01Subject
initial public offerings (IPO); hospitality companies; stocks
Rights
Required Publisher Statement: © Cornell University. Reprinted with permission. All rights reserved.
Type
article