Purchasing IPOs with commissions: Theoretical predictions and empirical results Michael A. Goldstein Babson College Paul J. Irvine University of Georgia W. Andy Puckett University of Missouri June, 2008 We thank the Abel/Noser Corporation and Judy Maiorca for providing the data. Also thanks to Dan Bradley, John Griffin, Charles Hadlock, Kathleen Hanley, Eugene Kandel, Laurie Krigman, Jim Linck, Marc Lipson, Alexander Ljungqvist, Jonathan Reuter, Chester Spatt, Kent Womack, Donghang Zhang and seminar participants at the 2007 AFA conference, the 2006 Harvard EVI conference, Clemson University, the University of Missouri, the University of Nebraska and Syracuse University for their helpful comments. Goldstein wishes to acknowledge financial support provided by the Babson Faculty Research Facility. Corresponding author e-mail:pirvine@uga.edu