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Bookbuilding: How Informative is the Order Book?

Cornelli, Francesca; Goldreich, David - C.E.P.R. Discussion Papers - 2001

When using a formal bookbuilding procedure, underwriters observe the demand curves of investors as stated in the ‘book … types, such as large bidders and frequent bidders. Aftermarket returns in IPOs are positively correlated with …

Persistent link: https://www.econbiz.de/10005791587

Valuation as promise and care : the use of accounting in the entrepreneurial economy

Mouritsen, Jan; Pflueger, Dane - 2018

This is a study of analysts' use of accounting information for valuation purposes in a venture capital setting. This … venture funders (analysts), a four phase model of valuation is proposed. The model illuminates that, in contrast with common …

Persistent link: https://www.econbiz.de/10012111142

Micro Enterprises Performances Potential Index (MEPPI): A Study with the Reference to Rural Areas of the Cuddalore District, Tamilnadu

Pazhanisamy, R.; Selvarajan, E. - 2019

Micro enterprises are recognized as the prime source of livelihood for the poor population in the rural areas around the globe. The impact of micro enterprises on the rural economy is determined by the performance of these micro enterprises, their success rate and the potential for the...

Persistent link: https://www.econbiz.de/10012014587

Career Concerns, Risk-Taking, and Upward Mobility in the Financial Services Industry: Evidence from Top Ranked Financial Advisers

Honda, Jun - 2020

We investigate career concerns of financial advisers with a focus on their risk-taking and upward mobility. We use matched employer-employee data for the universe of financial advisers with one well-known national ranking for top financial advisers. We find that at early career stages before...

Persistent link: https://www.econbiz.de/10012609025

Gender Gaps and Racial Disparities in Labour Market Penalties for Financial Misconduct

Honda, Jun - 2020

We consider the labour market for financial advisers in the US using a matched employer-employee data set over the period 2008-2018, in order to examine gender gaps and racial disparities in labour market penalties for financial misconduct. We first show that the measurement of labour market...

Persistent link: https://www.econbiz.de/10012609026

Banking relationships and access to equity capital markets : evidence from Japan's main bank system

Kutsuna, Kenji (contributor); … - 2005

increased access to equity capital markets, but that issuers of large IPOs switch to non-related investment banks that are … bank or the investment bank. -- Main Bank ; Banking Relationships ; Capital Market Access ; IPOs ; Underwriting ; Japanese …

Persistent link: https://www.econbiz.de/10003231298

Sell-Side Information Production in Financial Markets

Chen, Zhaohui - 2012

We study decisions to sell nonexcludable private information in the presence of a trading opportunity. Sell-side agents heighten competition among agents who buy their signals to combine with their own for proprietary trading purposes and thereby promote financial market efficiency. This result...

Persistent link: https://www.econbiz.de/10013115605

Conflicting Codes and Codings : How Algorithmic Trading Is Reshaping Financial Regulation

LENGLET, Marc - 2012

Contemporary financial markets have recently witnessed a sea change with the ‘algorithmic revolution', as trading automats are used to smoothen the execution sequences and reduce market impact. Constantly monitored, they take an active part in the shaping of markets, and sometimes generate...

Persistent link: https://www.econbiz.de/10013116090

The New Laws and Regulations for Financial Conglomerates : Will They Better Manage the Risks than the Previous Ones?

Brown, Elizabeth F. - 2011

Federal and state laws allow U.S. financial conglomerates to own securities, insurance and depository institutions through a holding company structure. Before the recent crisis, the federal or state agency responsible for regulating a financial conglomerate as a whole was determined by what...

Persistent link: https://www.econbiz.de/10013123814

The Separation of Funds and Managers : A Theory of Investment Fund Structure and Regulation

Morley, John - 2014

This Article offers a broad theory of what distinguishes investment funds from ordinary companies, with ramifications for how these funds are understood and regulated. The central claim is that investment funds (i.e., mutual funds, hedge funds, private equity funds and their cousins) are...

Persistent link: https://www.econbiz.de/10013064275