In Taiwan, underwriting fees for initial public offerings (IPOs) are extremely low compared to fees in other countries. From 1989 to 1999, the average underwriting fee for IPOs in Taiwan is 0.99%-far below the regulatory limit. Although the Taiwanese underwriting industry is highly concentrated,...

We examine membership on editorial boards of sixteen leading finance journals in 1985, 1990, 1995, and 2000. Membership on a board of a high-quality journal is highly selective. Editors and members of editorial boards of quality journals are trusted by their peers who submit their research for...