The relation between investment bank reputation and the price and quality of bond
underwriting services is studied here. After controlling for endogeneity in issuer–underwriter …

This chapter analyzes the securities issuance process, focusing on initial public offerings
(IPOs) and seasoned equity offerings (SEOs). The IPO literature documents three empirical …

We investigate whether analyst behavior influenced banks' likelihood of winning
underwriting mandates for a sample of 16,625 US debt and equity offerings in 1993–2002 …

On May 29, 2008 the Wall Street Journal published an article alleging that several global
banks were reporting Libor quotes significantly lower than those implied by prevailing credit …

This paper studies the effect of bank relationships on underwriter choice in the US corporate‐
bond underwriting market following the 1989 commercial‐bank entry. I find that bank …

Theory suggests that banks' private information lets them hold up borrowers for higher
interest rates. Since new information about a firm is revealed at the time of its bond IPO, it …

Securities issued under Rule 144A do not have to file a public registration statement with the
Securities and Exchange Commission, but can be sold only to qualified financial institutions …

This article examines information and incentive problems that can exist in the market for
commercial mortgages that are pooled and repackaged as commercial mortgage-backed …

We compare underwriting performance by commercial bank-affiliated firms (Section 20s)
and traditional investment banks over the period 1995–1998. We find that gross spreads are …

This paper provides primary evidence of whether certification via reputable underwriters is
beneficial to investors in the corporate bond market. We focus on the high-yield bond market …