Do underwriters short-change corporations issuing bonds?
We confirm prior evidence that bonds on average are offered at prices below their immediate post-offer secondary market prices. However, in cases where banks lead-manage their own bond offerings the underpricing is significantly less as compared to other non-self-marketed offerings. These findings a...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2022
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| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/7023 https://ink.library.smu.edu.sg/context/lkcsb_research/article/8022/viewcontent/SSRN_id4052561.pdf |
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| Institution: | Singapore Management University |
| Language: | English |