DRUCKER, STEVEN; PURI, MANJU - In: Journal of Finance 60 (2005) 6, pp. 2763-2799
This paper examines whether there are efficiencies that benefit issuers and underwriters when a financial intermediary concurrently lends to an issuer while also underwriting its public securities offering. We find issuers, particularly noninvestment-grade issuers for whom informational...