Underwriter Reputation, Issuer-Underwriter Matching, and SEO Performance
نویسندگان
چکیده
Abstract The role of underwriters is altered in new seasoned equity offering deal types which the follows quickly after its announcement. Controlling for endogenous matching between issuing firms and underwriters, we find increased underwriter reputation mitigates immediate price impact announcing an accelerated bookbuilt offering, exacerbates a bought has no fully marketed deals. In contrast, positively affects outcomes deals around offer date. Reputation effects are not apparent absence controlling matching.
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ژورنال
عنوان ژورنال: Journal of Financial and Quantitative Analysis
سال: 2021
ISSN: ['1756-6916', '0022-1090']
DOI: https://doi.org/10.1017/s002210902100065x