Market Making Obligations and Firm Value

1 January 2012

preprint
Published by Elsevier in SSRN Electronic Journal

https://doi.org/10.2139/ssrn.2130875

Abstract

We examine the effects of secondary market liquidity on firm value and the decision to conduct an Initial Public Offering (IPO). Illiquidity can lead to complet

Keywords

DESIGNATED MARKET MAKER
FIRM VALUE
INFORMATION ASYMMETRY

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