The question as to whether competitive bidding or negotiated underwriting is the least-cost method for distributing new issues of public utility bonds remains largely unresolved. This study analyzes the costs on such new issues during the period from January, 1972, through August, 1974. The results indicate that, in general, competitive bidding was the least-cost method of distributing public utility obligations during this period. An analysis of the relationship between issue size, underwriting arrangement (i.e., competitive versus negotiated), and underwriters' charges does, however, suggest that negotiated underwriting may be the preferable alternative in certain circumstances.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 7 (1976) Issue (Month): 2 (Autumn) Pages: 680-689 Download reference. The following formats are available: HTML
(with abstract),
plain text
(with abstract),
BibTeX,
RIS (EndNote, RefMan, ProCite),
ReDIF
For technical questions regarding this item, or to correct its listing, contact: ().
Related research
Keywords:
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)