This is the first published study, to our best best knowledge, to look at the junk IPOs in a systematic manner using a quasi-experimental design. The study abandons the notion of homogeneous market for IPOs, and instead focuses on the differential demand for information across identifiable...

We examined the association between financial disclosure and Net Interest Costs (NIC) in terms of finance studies that have suggested that the municipal bond market is segmented. Our results indicate that financial reporting measures are more strongly associated with NIC in the regional primary...

Purpose – The purpose of this paper is to describe a study which examined the effects of underwriter reputation market segments on the value relevance of firm specific risk measures in the pricing of initial public offerings (IPOs). Design/methodology/approach – The study abandons the notion...

Prior studies have shown that seasoned municipal bond prices exhibit a marked increase in variability during the period of new bond issues by the same municipality. Those studies did not attempt, however, to determine whether accounting information was part of the total information being...