We examine the determinants of an initial public offering (IPO) firm's choice to trade on a when-issued market and find that better quality firms are more likely to trade on this market. Our ‘what-if' analysis shows that for companies choosing when-issued trading, the actual offer price is...

We examine the determinants of an IPO firm's choice to trade on a when-issued market and if the decision to trade on this market has any impact on the pricing of IPO shares. We find that companies that are larger, less risky, have higher future growth opportunities and are underwritten by...

We investigate loan price in mergers and acquisitions (M&As), using hand-matched loan information for a sample of 512 U.S. M&A transactions. We find the relative size of a deal constitutes a prominent determinant of the loan price measured by the all-in spread drawn (AISD). This result is robust...