Purpose – The purpose of this paper is to empirically examine the relationship between the level of underwriter spread and ownership structure by using data from Japanese IPO firms that are issued during the years 1997-2002. Design/methodology/approach – The paper uses regression analysis to...

Purpose – The purpose of this paper is to empirically examine the relationship between the level of underwriter spread and ownership structure by using data from Japanese IPO firms that are issued during the years 1997‐2002. Design/methodology/approach – The paper uses regression analysis...