Chaplinsky, Susan; Erwin, Gayle R. - In: Journal of Banking & Finance 33 (2009) 2, pp. 380-389
We examine the in-roads commercial banks have made into equity underwriting over 1990-2002. While banks end the period handling upwards of 25% of equity underwriting, this increase results almost exclusively from acquisitions of investment banks with an already established market share of equity...