The purpose of this paper is to examine the role of reputation in the matching of lead underwriters and issuing firms in the straight corporate bond market in Japan. While the existing literature already investigates how the issuing firm chooses its lead underwriter at the time of issue, this...

The purpose of this paper is to examine the determinants of firms switching the lead underwriter they use to underwrite their first and second public issues of straight corporate bonds in Japan between 1994 and 2002. In particular, the paper focuses on the role of the lead underwriter's...

The purpose of this paper is to examine the impact of a 1993 relaxation of the restrictions governing the underwriting operations of Japanese banks on bond issues in the Euro–yen and Japanese corporate bond markets. Evidence is presented to suggest that the relaxation of the restrictions...

The 1993 Japanese financial system reform allowed banks to enter the underwriting market for corporate bonds through bank-owned security subsidiaries. This paper examines empirically whether underwriting commissions and spreads for corporate bonds fell as a result of this bank entry. The...