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Routledge Revivals: The Efficiency of New Issue Markets (1992) female leaders it has also been usedFirst published in 1992, The Efficiency of New Issue Markets provides a theoretical discussion of the adverse selection model of the new issue market. It addresses the hypothesis that the method of distribution of new issues has an important bearing on the efficiency of these markets. In doing this, the book tests the efficiency of the Offer for Sale new issue market, which demonstrates the validity of the adverse selection model and contradicts the