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- Publications
- Influence
IPO Pricing with Bookbuilding and a When-Issued Market
- Wolfgang Aussenegg, Alex Stomper, P. Pichler
- Business, Materials Science
- 1 July 2005
We study IPO pricing in Germany to determine whether when-issued trading provides information that is useful for setting IPO offer prices, and whether such trading supplants bookbuilding as a source… Expand
Snow and Leverage
- Xavier Giroud, H. Mueller, Alex Stomper, Arne Westerkamp
- Business, Economics
- 1 October 2010
This paper examines whether reducing a debt overhang improves borrowers' operating performance using a sample of distressed and highly overleveraged Austrian ski hotels undergoing debt… Expand
Sticky prices: IPO pricing on Nasdaq and the Neuer Markt
- Wolfgang Aussenegg, P. Pichler, Alex Stomper
- Business
- 1 April 2002
This paper examines the IPO pricing processes of two different markets, each of which employs bookbuilding methods for marketing the IPO shares. For each market we investigate two questions: Does… Expand
Why Leverage Affects Pricing
- Alex Stomper, C. Zulehner, P. Pichler
- Economics
- 15 December 2006
We explain and provide evidence for effects of leverage on pricing. Our model identifies two effects that either counteract or reinforce each other, depending on the debt maturity structure: (i)… Expand
A Theory of Banks' Industry Expertise, Market Power, and Credit Risk
- Alex Stomper
- Economics, Computer Science
- Manag. Sci.
- 1 October 2006
TLDR
Capital Structure, Information Acquisition and Investment Decisions in an Industry Framework
- V. Maksimovic, Alex Stomper, J. Zechner
- Business
- 1999
This paper analyzes the relationship between a firm's capital structure and its information acquisition prior to capital budgeting decisions. It is found that low-growth industries can sustain a… Expand
Training the Doubtful and Timid ∗
We analyze the effect of human capital on insurance within the firm. In our model human capital creates rents that are split between workers and firms. These rents are lost when employment at a… Expand
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The Separation of Ownership and Control : An Austrian Perspective European Corporate Governance Network September 1997
- K. Gugler, S. Kalss, Alex Stomper, J. Zechner
- 1997
- 16
- 1
- PDF
A Theory of Banks' Industry Expertise, Market Power, and Credit Risk
- Alex Stomper
- 1 December 2001
I analyze banks' incentives to acquire expertise in judging the credit-worthiness of borrowers in an industry with uncertain business conditions. The optimal industrial organization of bank lending… Expand
Primary Market Design: Direct Mechanisms and Markets
- Alex Stomper, P. Pichler
- Business
- 30 July 2004
We develop a model that allows for the coexistence of bookbuilding and when-issued trading. We show that, due to interactions between these two processes, allowing for when-issued trading is for the… Expand