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The Competitive Impact of Commercial Bank Underwriting on the Market for Municipal Revenue Bonds

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  • Kenneth Daniels
  • Jayaraman Vijayakumar

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  • Kenneth Daniels & Jayaraman Vijayakumar, 2001. "The Competitive Impact of Commercial Bank Underwriting on the Market for Municipal Revenue Bonds," Journal of Financial Services Research, Springer;Western Finance Association, vol. 20(1), pages 57-75, September.
    • Handle: RePEc:kap:jfsres:v:20:y:2001:i:1:p:57-75
    DOI: 10.1023/A:1011199625937
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    References listed on IDEAS

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    1. James, Christopher, 1987. "Some evidence on the uniqueness of bank loans," Journal of Financial Economics, Elsevier, vol. 19(2), pages 217-235, December.
    2. Lummer, Scott L. & McConnell, John J., 1989. "Further evidence on the bank lending process and the capital-market response to bank loan agreements," Journal of Financial Economics, Elsevier, vol. 25(1), pages 99-122, November.
    3. Hopewell, Michael H & Kaufman, George G, 1977. "Commercial Bank Bidding on Municipal Revenue Bonds: New Evidence," Journal of Finance, American Finance Association, vol. 32(5), pages 1647-1656, December.
    4. Kessel, Reuben, 1971. "A Study of the Effects of Competition in the Tax-exempt Bond Market," Journal of Political Economy, University of Chicago Press, vol. 79(4), pages 706-738, July-Aug..
    5. Puri, Manju, 1994. "The long-term default performance of bank underwritten security issues," Journal of Banking & Finance, Elsevier, vol. 18(2), pages 397-418, January.
    6. Hendershott, Patric H & Kidwell, David S, 1978. "The Impact of Relative Security Supplies: A Test with Data from a Regional Tax-Exempt Bond Market," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 10(3), pages 337-347, August.
    7. Kroszner, Randall S. & Rajan, Raghuram G., 1997. "Organization structure and credibility: Evidence from commercial bank securities activities before the Glass-Steagall Act," Journal of Monetary Economics, Elsevier, vol. 39(3), pages 475-516, August.
    8. Puri, Manju, 1996. "Commercial banks in investment banking Conflict of interest or certification role?," Journal of Financial Economics, Elsevier, vol. 40(3), pages 373-401, March.
    9. Peter M. Keir & James L. Kichline, 1967. "Interest cost effects of commercial bank underwriting of municipal revenue bonds," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Aug, pages 1287-1302.
    10. Gande, Amar, et al, 1997. "Bank Underwriting of Debt Securities: Modern Evidence," Review of Financial Studies, Society for Financial Studies, vol. 10(4), pages 1175-1202.
    11. Gande, Amar & Puri, Manju & Saunders, Anthony, 1999. "Bank entry, competition, and the market for corporate securities underwriting," Journal of Financial Economics, Elsevier, vol. 54(2), pages 165-195, October.
    12. Sorensen, Eric H., 1980. "An Analysis of the Relationship between Underwriter Spread and the Pricing of Municipal Bonds," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 15(2), pages 435-447, June.
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    Cited by:

    1. Young Joo Park & David S.T. Matkin & Justin Marlowe, 2017. "Internal Control Deficiencies and Municipal Borrowing Costs," Public Budgeting & Finance, Wiley Blackwell, vol. 37(1), pages 88-111, March.

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