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Managers’ MV Alpha and Their New Issue’s WACC (Based on Discount Margins)

Managers’ MV Alpha and Their New Issue’s WACC (Based on Discount Margins) A sample of 236 deals (closed between May 2016 and Dec 2019) managed by 45 managers is included in this study. The graph below shows the last new issue’s WACC (based on DMs) and the average investment MV alpha (across at least two deals)…

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