This paper investigates the short-term valuation effects and the long-run performance of bank initial public offerings in the United States from 1972 to 1997. Overall, the empirical results provide significant evidence that the dividend policy of bank IPOs differ from that of non-banks. The...

This paper investigates the short-term valuation effects and the long-run performance of bank initial public offerings in the United States from 1972 to 1997. Overall, the empirical results provide significant evidence that the dividend policy of bank IPOs differ from that of non-banks. The...

Purpose -The purpose of this paper is to model the components of credit risk in primary debt markets and evaluate changes in these factors in times of crisis. Design/methodology/approach - The authors use a unique dataset consisting of nearly 163,000 new loans and bond issues in the USA and...