The impact of bank ownership of underwriters on the underpricing of initial public offerings

被引：0

作者：

Ursel, ND

Ljucovic, P

机构：

[1] Univ Windsor, Fac Business, Windsor, ON N9B 3P4, Canada

[2] Ford Motor Co, Windsor, ON, Canada

来源：

CANADIAN JOURNAL OF ADMINISTRATIVE SCIENCES-REVUE CANADIENNE DES SCIENCES DE L ADMINISTRATION | 1998年 / 15卷 / 01期

关键词：

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This study examines the underpricing of Canadian initial public overings (IPOs) since July 1, 1987, when banks entered the underwriting business. The level of underpricing found (3.64%-3.95%) is much lower than that found by other studies. Bank ownership of an issue's underwriter is found to be significantly related to lower underpricing However this appears to be due to the fact that banks acquire high prestige underwriters and nor due to bank ownership per se.

引用

页码：17 / 27

页数：11

共 50 条

[31] BANK LENDING AND INITIAL PUBLIC OFFERINGS
SLOVIN, MB
YOUNG, JE
[J]. JOURNAL OF BANKING & FINANCE, 1990, 14 (04) : 729 - 740
[32] Disclosure of intended use of proceeds and underpricing in initial public offerings
Leone, Andrew J.
Rock, Steve
Vasvari, Florin P.
[J]. JOURNAL OF ACCOUNTING RESEARCH, 2007, 45 (01) : 111 - 153
[33] Litigation risk, strategic disclosure and the underpricing of initial public offerings
Hanley, Kathleen Weiss
Hoberg, Gerard
[J]. JOURNAL OF FINANCIAL ECONOMICS, 2012, 103 (02) : 235 - 254
[34] Initial public offerings in the port industry: exploring the determinants of underpricing
Satta, Giovanni
[J]. MARITIME POLICY & MANAGEMENT, 2017, 44 (08) : 1012 - 1033
[35] Initial public offerings in China: Underpricing, statistics and developing literature
Azevedo, Alcino
Guney, Yilmaz
Leng, Jingsi
[J]. RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 2018, 46 : 387 - 398
[36] EXANTE UNCERTAINTY AND THE UNDERPRICING OF INITIAL PUBLIC OFFERINGS - FURTHER CANADIAN EVIDENCE
CLARKSON, PM
MERKLEY, J
[J]. REVUE CANADIENNE DES SCIENCES DE L ADMINISTRATION-CANADIAN JOURNAL OF ADMINISTRATIVE SCIENCES, 1994, 11 (01): : 54 - 67
[37] Signaling by Underpricing the Initial Public Offerings of Primary Listings in an Emerging Market
Cornanic, Ales
Novak, Jiri
[J]. FINANCE A UVER-CZECH JOURNAL OF ECONOMICS AND FINANCE, 2015, 65 (04): : 307 - 335
[38] ASYMMETRIC INFORMATION AND UNDERPRICING OF INITIAL PUBLIC OFFERINGS: EVIDENCE FROM CROATIA
Hruska, Domagoj
Milkovic, Drazen
Longin, Maja Darabos
[J]. PROCEEDINGS OF THE 14TH ECONOMICS & FINANCE CONFERENCE, 2020, : 70 - 76
[39] UNDERPRICING AND BOARD STRUCTURES: AN INVESTIGATION OF MALAYSIAN INITIAL PUBLIC OFFERINGS (IPOs)
Yatim, Puan
[J]. ASIAN ACADEMY OF MANAGEMENT JOURNAL OF ACCOUNTING AND FINANCE, 2011, 7 (01): : 73 - 93
[40] THE WINNERS CURSE PROBLEM, INTEREST COSTS AND THE UNDERPRICING OF INITIAL PUBLIC OFFERINGS
LEVIS, M
[J]. ECONOMIC JOURNAL, 1990, 100 (399): : 76 - 89

← 1 2 3 4 5 →