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Good IPOs draw in bad: Inelastic banking capacity and hot markets

Khanna, Naveen; Noe, Thomas; Sonti, Ramana - 2007

We posit that screening IPOs requires specialized labor which is in fixed supply. A sudden increase in demand for IPO financing increases the compensation of IPO screening labor. This results in reduced screening, encouraging sub-marginal firms to enter the IPO market, further fueling the demand...

Persistent link: https://www.econbiz.de/10011423010

An Examination of Seasoned Equity Offer Placement Effort

ALTINKILIC, Oya - 2001

AltinkiliÃ§ and Hansen (2000) show that underwriter spreads in seasoned equity offerings (SEOs) overwhelmingly reflect variable costs. This research attempts to begin filling the gap created by this result, as to what are the important constituents of the variable costs. In particular, I...

Persistent link: https://www.econbiz.de/10009433796

Internal Control Mechanisms and Forced CEO Turnover: An Empirical Investigation

Jagannathan, Murali - 1996

The dissertation empiricallyexamines the efficacy of internalcontrol mechanisms by analyzing 94forced turnovers of chief executiveofficers (CEOs). It seeks to answertwo primary questions: One, dogovernance-related characteristicsinfluence the promptness with whichpoorly-performing CEOs...

Persistent link: https://www.econbiz.de/10009434130

OPTIMAL BOND REFUNDING: EVIDENCE FROM THE MUNICIPAL BOND MARKET

Priyadarshi, Samaresh - 1997

<HTML><HEAD><META HTTP-EQUIV="Content-Type" CONTENT="text/html; charset=windows-1252"></HEAD><BODY><FONT FACE="Book Antiqua"><P ALIGN="JUSTIFY">This dissertation empirically examines refunding decisions employed by issuers of tax-exempt bonds. Callable bonds contain embedded call options by virtue of provisions in bond indentures that permit the issuing firm to buy back the bond at a predetermined strike price. Such an embedded American...</p></font></body></head></html>

Persistent link: https://www.econbiz.de/10009434140