Allocation of initial public offerings and flipping activity

  title={Allocation of initial public offerings and flipping activity},
  author={Reena Aggarwal},
There is a general perception that the large trading volume in initial public offerings is mostly due to ‘‘flippers’’ that are allocated shares in the offering and immediately resell them. On average, however, flipping accounts for only 19% of trading volume and 15% of shares offered during the first two days of trading. Institutions do more flipping than retail customers and hot IPOs are flipped much more than cold IPOs. Institutions do not quickly flip cold IPOs to take advantage of price… CONTINUE READING
Highly Cited
This paper has 43 citations. REVIEW CITATIONS

From This Paper

Figures and tables from this paper.


Publications referenced by this paper.
Showing 1-10 of 19 references

Stabilization activities by underwriters after new offerings

  • R. Aggarwal
  • Journal of Finance
  • 2000
Highly Influential
9 Excerpts

Who benefits from secondary market price

  • L. M. Benveniste, S. M. Erdal, W. J. Wilhelm
  • equity issues. Journal of Financial Economics
  • 1998
Highly Influential
5 Excerpts

What’s special about the role

  • D. Logue, R. Rogalski, J. Seward, L. Foster-Johnson
  • Financial Economics
  • 2002
1 Excerpt

Divergence of opinion in IPOs

  • T. Houge, T. Loughran, G. Suchanek, X. Yan
  • 2001
1 Excerpt

Capital formation and the internet

  • R. Aggarwal, S. Dahiya
  • Journal of Applied Corporate Finance
  • 2000
1 Excerpt

Price discovery in IPOs and the role of the lead underwriter

  • R. 1075–1104. Aggarwal, P. Conroy
  • 2000
3 Excerpts

Similar Papers

Loading similar papers…