Lau, Sie Ting; Yu, Jing - In: Journal of Banking & Finance 34 (2010) 9, pp. 2027-2041
In this study, we analyze a sample of 3982 international bond issues from 31 countries to examine the impact of geographic proximity on the selection of lead underwriter in the international bond market. We find that proximate banks are more likely to lead underwrite risky bonds and non-rated...