We examine interactions between firms issuing seasoned equity and their underwriters. Our approach contrasts with many studies which assume the interests of issuing firms and their underwriters are aligned, thus rendering distinctions between the two parties unimportant. We specifically examine...

We show competition between underwriters even when fees are clustered. We study accelerated seasoned equity offerings (SEOs), which are now the predominant form of public SEO in the U.S., Canada, and Europe. Underwriters compete by establishing capacity sufficient to allow them to maintain close...