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This paper examines underpricing of IPOs and seasoned offerings in the corporate bond market. We investigate whether underpricing represents a solution to an information problem or a liquidity problem. We find that underpricing occurs with both IPOs and seasoned offering and is highest among...
Persistent link: https://www.econbiz.de/10012731889
This paper examines the role of reputation in the corporate bond market as a substitute for underpricing. We find that underpricing occurs with seasoned debt issuers as well as debt IPOs and it is highest among riskier, unknown firms. In addition, firms with no prior banking elationship have...
Persistent link: https://www.econbiz.de/10012736963
This paper examines underpricing of IPOs and seasoned offerings in the corporate bond market. We investigate whether underpricing represents a solution to an information problem or a liquidity problem. We find that underpricing occurs with both IPOs and seasoned offering and is highest among...
Persistent link: https://www.econbiz.de/10012776399
This article examines underpricing of initial public offerings (IPOs) and seasoned offerings in the corporate bond market. We investigate whether underpricing represents a solution to an information problem or a liquidity problem. We find that underpricing occurs with both IPOs and seasoned...
Persistent link: https://www.econbiz.de/10012716162
Persistent link: https://www.econbiz.de/10007884941
Persistent link: https://www.econbiz.de/10007887697
Persistent link: https://www.econbiz.de/10007873240
Persistent link: https://www.econbiz.de/10010114137
This article examines underpricing of initial public offerings (IPOs) and seasoned offerings in the corporate bond market. We investigate whether underpricing represents a solution to an information problem or a liquidity problem. We find that underpricing occurs with both IPOs and seasoned...
Persistent link: https://www.econbiz.de/10004999370