| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26344 |
| 来源ID | Working Paper 26344 |
| Underwriter Reputation, Issuer-Underwriter Matching, and SEO Performance | |
| Charles W. Calomiris; Yehuda Izhakian; Jaime F. Zender | |
| 发表日期 | 2019-10-07 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | The role of underwriters is altered in new seasoned equity offering deal types in which the offering follows quickly after its announcement. Controlling for the endogenous matching between issuing firms and underwriters, we find increased underwriter reputation mitigates the immediate price impact of announcing an accelerated bookbuilt offering, exacerbates the price impact of announcing a bought offering, and has no immediate price impact for fully marketed deals. In contrast, underwriter reputation positively affects price outcomes for fully marketed deals around the offer date. Reputation effects are not apparent in the absence of controlling for the endogenous matching. |
| 主题 | Microeconomics ; Economics of Information ; Financial Economics ; Financial Markets ; Corporate Finance |
| URL | https://www.nber.org/papers/w26344 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/584015 |
| 推荐引用方式 GB/T 7714 | Charles W. Calomiris,Yehuda Izhakian,Jaime F. Zender. Underwriter Reputation, Issuer-Underwriter Matching, and SEO Performance. 2019. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w26344.pdf（469KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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