Suzuki, Katsushi; Yamada, Kazuo - Graduate School of Business Administration, Kobe University - 2010
This paper examines the effects of the intended use of proceeds on bank underwriters' certification roles in Japan … issuer discloses that the intended use of proceeds is repayment, the bank underwriter has no effect on the announcement … associated with the announcement return. Furthermore, issuers underwritten by banks whose use of proceeds is loan repayment are …