Klein, Daniel P.; Grube, R. Corwin; Joy, O. Maurice - In: Journal of Small Business Finance 2 (1992) 1, pp. 53-69
This paper examines compensation for the underwriting activity in firm commitment initial public offerings (IPOs) of … common stock in the U.S. When compensation for origination, management and marketing efforts are excluded from total … underwriter compensation, we find that the portion of the total compensation assigned for the underwriting activity itself exceeds …