The Underwriters' Laboratories
نویسندگان
چکیده
منابع مشابه
Do Underwriters Compete in IPO Pricing?
We propose and implement, for the first time, a direct test of the hypothesis of oligopolistic competition in the U.S. underwriting market against the alternative of implicit collusion in IPO price setting. We construct two models of an IPO underwriting market: in the first one IPO underwriters set their fees competitively, while in the second one they coordinate (collude) in setting fees. The ...
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Expertise m what is it? Expertise is the ability of one human within an organization to outperform a similarly educated and informed peer group in discrete, repetitive tasks involving decision-making and risk assessment. Expertise is best measured by the degree to which an individual’s performance provides proprietary advantage to his organization. Bright people with exceptional ways of accompl...
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The purpose of this paper is to examine the role of reputation in the matching of underwriters and issuing firms in the straight corporate bond market in Japan. While the existing literature already investigates how the issuing firm chooses its underwriter at the time of issue, this paper uses initial and seasoned issues of straight corporate bonds to examine how the matching of underwriters an...
متن کاملHow do underwriters select peers when valuing IPOs?
Valuing IPOs using multiples leaves a high degree of responsibility to underwriters in the selection of comparable firms. This is the first paper that compares the peers selected by the underwriters with those selected by sell-side analysts or obtained from matching algorithms. Using a sample of 348 companies going public in France and Italy over the last decade, we find that, on average, peers...
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1 Zorica Nedic, University of South Australia, School of Electrical and Information Engineering, Mawson Lakes, S.A. 5095, [email protected] 2 Jan Machotka, University of South Australia, School of Electrical and Information Engineering, Mawson Lakes, S.A. 5095, [email protected] 3 Andrew Nafalski, University of South Australia, School of Electrical and Information Engineering, M...
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ژورنال
عنوان ژورنال: Scientific American
سال: 1903
ISSN: 0036-8733
DOI: 10.1038/scientificamerican08221903-23109supp