Chen, Carl R.; Mohan, Nancy J. - In: Journal of Business Finance & Accounting 29 (2002-04) 3&4, pp. 521-540
This paper studies the relationships between underwriter reputation, underwriter spread, and IPO underpricing. We consider the information content of underwriter spread and find that it conveys information pertinent to IPO quality. Because underwriter spread is endogenous, underpricing and...