Do underwriters short-change corporations issuing bonds?

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 with other non-self-marketed offerings. These findings...

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Bibliographic Details
Main Authors: GOH, Jeremy C., YANG, Lisa (Zongfei)
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2024
Subjects:
Underwriters
bonds
market prices
Finance and Financial Management
Portfolio and Security Analysis
Online Access:https://ink.library.smu.edu.sg/lkcsb_research/7372
https://ink.library.smu.edu.sg/context/lkcsb_research/article/8371/viewcontent/do_underwriters_short_change_corporations_issuing_bonds_pvoa.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/lkcsb_research/7372
https://ink.library.smu.edu.sg/context/lkcsb_research/article/8371/viewcontent/do_underwriters_short_change_corporations_issuing_bonds_pvoa.pdf

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