This paper examines the distribution of power within financial networks of investment banks in equity capital markets (ECMs) of three key economies in Asia — Hong Kong, Japan, and Singapore. Using social network analysis, it shows that while bulge-bracket banks occupy core positions in all...

This paper shows that firms from financial centres are more likely to go public than their provincial counterparts. The financial centre bias is analysed for 32 countries, including the European Union, the USA and Japan. It is particularly strong in countries with underdeveloped stock markets...

Which firms issue equity and debt in domestic and international markets and what happens to their assets, sales, and number of employees? To answer these questions, we assemble a new dataset on firm-level capital raising activity during 1991-2011, which we match with firm attributes for 45,527...