Initial Public Offerings in the Hospitality Industry: Underpricing and Overperformance

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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.
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1996-10-01
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initial public offerings (IPO); hospitality companies; stocks
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Government Document
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Required Publisher Statement: © Cornell University. Reprinted with permission. All rights reserved.
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