Underwriting Services and the New Issues Market

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  • Publisher : Academic Press
  • Release : 27 July 2017
  • ISBN : 9780128032831
  • Page : 332 pages
  • Rating : 4.5/5 from 103 voters

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Underwriting Services and the New Issues Market integrates practice, theory and evidence from the global underwriting industry to present a comprehensive description and analysis of underwriting practices. After covering the regulation and mechanics of the underwriting process, it considers economic topics such as underwriting costs and compensation, the pricing of new issues, the stock price and operating performance of issuing firms, the evaluation of new issue decisions, and an analysis of the many choices issuers face in structuring new issues. Unlike other books, it systematically develops a critical perspective about underwriting practices, both in the U.S. and international markets, and with a level of detail unavailable elsewhere and an approach that reveals how financial institutions deliver underwriting services. Underwriting Services and the New Issues Market delivers an innovative and long overdue look at security issuance. Foreword by Frank Fabozzi Covers underwriting contracts and arrangements on pricing and costs Focuses on the financial consequences of the issuance decision for the firm Describes and evaluates decisions regarding the features and structure of new security offerings.

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Underwriting Services and the New Issues Market

Underwriting Services and the New Issues Market
  • Author : George J. Papaioannou,Ahmet K. Karagozoglu
  • Publisher : Academic Press
  • Release Date : 2017-07-27
  • ISBN : 9780128032831
GET THIS BOOKUnderwriting Services and the New Issues Market

Underwriting Services and the New Issues Market integrates practice, theory and evidence from the global underwriting industry to present a comprehensive description and analysis of underwriting practices. After covering the regulation and mechanics of the underwriting process, it considers economic topics such as underwriting costs and compensation, the pricing of new issues, the stock price and operating performance of issuing firms, the evaluation of new issue decisions, and an analysis of the many choices issuers face in structuring new issues.

Foreign Entry Into Underwriting Services

Foreign Entry Into Underwriting Services
  • Author : Mark M. Spiegel
  • Publisher : DIANE Publishing
  • Release Date : 2010-10
  • ISBN : 9781437933864
GET THIS BOOKForeign Entry Into Underwriting Services

Examines the impact of foreign underwriting activity on bond markets using issue-level data in the Japanese ¿Samurai¿ and euro-yen bond markets. Firms choosing Japanese underwriters tend to be Japanese, riskier, and smaller. Japanese underwriting fees, while higher overall on average, are actually lower after conditioning for issuer characteristics. The authors conducted a matching exercise to examine the 1995 liberalization of foreign access to the ¿Samurai¿ bond market, using yen-denominated issues in the euro-yen market as a control. Foreign entry led to

Performance of Financial Institutions

Performance of Financial Institutions
  • Author : Patrick T. Harker,Department of Public and Business Administration Stavros A Zenios,Stavros A. Zenios
  • Publisher : Cambridge University Press
  • Release Date : 2000-05-18
  • ISBN : 0521777674
GET THIS BOOKPerformance of Financial Institutions

This volume addresses the importance of the efficient operation of financial intermediaries with respect to the efficient functioning of the present and future financial systems.

Investment Banking

Investment Banking
  • Author : Giuliano Iannotta
  • Publisher : Springer Science & Business Media
  • Release Date : 2010-01-12
  • ISBN : 9783540937654
GET THIS BOOKInvestment Banking

From a historical point of view, the main activity of investment banks is what today we call security underwriting. Investment banks buy securities, such as bonds and stocks, from an issuer and then sell them to the ?nal investors. In the eighteenth century, the main securities were bonds issued by governments. The way these bonds were priced and placed is extraordinarily similar to the system that inve- ment banks still use nowadays. When a government wanted to issue new bonds,

Conflicts of Interest in the Financial Services Industry

Conflicts of Interest in the Financial Services Industry
  • Author : Andrew Crockett,Trevor Harris,Frederic S. Mishkin,Eugene N. White
  • Publisher : Centre for Economic Policy Research
  • Release Date : 2003
  • ISBN : 1898128790
GET THIS BOOKConflicts of Interest in the Financial Services Industry

The fifth report in this series focuses on conflicts of interest that arise when a firm combines multiple lines of business, creating multiple interests. Conflicts between research and underwriting in investment banking and between auditing and consulting in accounting firms are investigated, as are the problems that arise from rating agencies providing consulting services and from universal banks combining commercial and investment banking. In the recent stock market collapse, confidence in the financial industry was shaken by numerous scandals. Beginning

The Pricing of Underwriting Services in the Australian Capital Market

The Pricing of Underwriting Services in the Australian Capital Market
  • Author : Julian Yeo
  • Publisher : Unknown
  • Release Date : 2011
  • ISBN : OCLC:1290243860
GET THIS BOOKThe Pricing of Underwriting Services in the Australian Capital Market

Recent media releases have placed enormous strains on the credibility of the underwriting industry. It has been alleged that underwriters in the US and UK collude and fix underwriting fees. In contrast to recent evidence on the underwriting spread in the US (Chen and Ritter, 2000), we find that the Australian underwriting fee is not clustered at one particular percentage. Using 282 underwritten industrial IPOs from 1980 to 1996, our results show that underwriters systematically price their services according to firm-specific variables such as

Underwriters Put: Evidence from Norway, Sweden and Denmark

Underwriters Put: Evidence from Norway, Sweden and Denmark
  • Author : Tarjei Flatmo Janbu,Kristian Aulie Mork
  • Publisher : LAP Lambert Academic Publishing
  • Release Date : 2012-07
  • ISBN : 3659152323
GET THIS BOOKUnderwriters Put: Evidence from Norway, Sweden and Denmark

Rights issues are a common way for raising equity in the Scandinavian market (Norway, Sweden and Denmark). We have investigated underwritten rights issues in the Scandinavian countries for the period 2002-2010. Our full sample consists of 101 rights issues. The focus of this study is to examine the relationship between risk and reward relating to underwriting services and possible differences within Scandinavia. Based on the suggestion of Galai and Schneller (1978) we have assessed the value of the underwriting fee using option

Occupational Outlook Handbook

Occupational Outlook Handbook
  • Author : United States. Bureau of Labor Statistics
  • Publisher : Unknown
  • Release Date : 1976
  • ISBN : MINN:319510028165522
GET THIS BOOKOccupational Outlook Handbook

A Survey of the European IPO Market

A Survey of the European IPO Market
  • Author : Anonim
  • Publisher : CEPS
  • Release Date : 2006
  • ISBN : 9789290796589
GET THIS BOOKA Survey of the European IPO Market

Investment Banks, Hedge Funds, and Private Equity

Investment Banks, Hedge Funds, and Private Equity
  • Author : David Stowell
  • Publisher : Academic Press
  • Release Date : 2012-09-01
  • ISBN : 9780124046320
GET THIS BOOKInvestment Banks, Hedge Funds, and Private Equity

The dynamic environment of investment banks, hedge funds, and private equity firms comes to life in David Stowell’s introduction to the ways they challenge and sustain each other. Capturing their reshaped business plans in the wake of the 2007-2009 global meltdown, his book reveals their key functions, compensation systems, unique roles in wealth creation and risk management, and epic battles for investor funds and corporate influence. Its combination of perspectives—drawn from his industry and academic backgrounds—delivers insights

The Business of Investment Banking

The Business of Investment Banking
  • Author : K. Thomas Liaw
  • Publisher : John Wiley & Sons
  • Release Date : 2011-10-04
  • ISBN : 9781118127650
GET THIS BOOKThe Business of Investment Banking

A comprehensive overview of investment banking for professionals and students The investment banking industry has changed dramatically since the 2008 financial crisis. Three of the top five investment banks in the United States have disappeared, while Goldman Sachs and Morgan Stanley have converted to commercial banking charters. This Third Edition of The Business of Investment Banking explains the changes and discusses new opportunities for students and professionals seeking to advance their careers in this intensely competitive field. The recent financial regulation

The Changing Market in Financial Services

The Changing Market in Financial Services
  • Author : Economic Policy Conference of the Federal Reserve Bank of St. Louis
  • Publisher : Springer
  • Release Date : 1992-05-31
  • ISBN : UOM:39015025296297
GET THIS BOOKThe Changing Market in Financial Services

Proceedings of the Fifteenth Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis

Capital Markets Handbook

Capital Markets Handbook
  • Author : John C. Burch,Bruce S. Foerster
  • Publisher : Wolters Kluwer
  • Release Date : 2005-01-01
  • ISBN : 9780735550322
GET THIS BOOKCapital Markets Handbook

Capital Markets Handbook, Sixth Edition is the definitive desk reference for capital market professionals and a complete resource for anyone working in the financial markets field. Written by seasoned professionals in association with the SIA, Capital Markets Handbook covers the latest developments in major securities legislation, and all aspects of documentation, underwriting, pricing, distribution, settlement, immediate aftermarket trading of new issues, compliance issues, a glossary, a bibliography, and appendices containing the full text of the primary statutes and regulations. The

Bonds without Borders

Bonds without Borders
  • Author : Chris O'Malley
  • Publisher : John Wiley & Sons
  • Release Date : 2015-01-12
  • ISBN : 9781118843888
GET THIS BOOKBonds without Borders

Bonds without Borders tells the extraordinary story of how the market developed into the principal source of international finance for sovereign states, supranational agencies, financial institutions and companies around the world. Written by Chris O'Malley – a veteran practitioner and Eurobond market expert- this important resource describes the developments, the evolving market practices, the challenges and the innovations in the Eurobond market during its first half- century. Also, uniquely, the book recounts the development of security and banking regulations and their

Separation of Commercial and Investment Banking

Separation of Commercial and Investment Banking
  • Author : George J. Benston,John Harland
  • Publisher : Springer
  • Release Date : 1990-06-18
  • ISBN : 9781349112807
GET THIS BOOKSeparation of Commercial and Investment Banking

The latest in a series of studies in banking and international finance. This book deals with all aspects of the Glass-Steagall Act, and the relationship between the commercial banks and the investment banks.