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Information Externalities and the Role of Underwriters in Primary Equity Markets

  • Benveniste, Lawrence M.
  • Busaba, Walid Y.
  • Wilhelm, William Jr.
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    File URL: http://www.sciencedirect.com/science/article/B6WJD-45F4WR5-13/2/8170f025467b5371d6aef7e09d3ac740
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    Article provided by Elsevier in its journal Journal of Financial Intermediation.

    Volume (Year): 11 (2002)
    Issue (Month): 1 (January)
    Pages: 61-86

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    Handle: RePEc:eee:jfinin:v:11:y:2002:i:1:p:61-86
    Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622875

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    1. Randolph P. Beatty & Jay R. Ritter, . "Investment Banking, Reputation and the Underpricing of Initial Public Offerings," Rodney L. White Center for Financial Research Working Papers 2-85, Wharton School Rodney L. White Center for Financial Research.
    2. Dow, James & Gorton, Gary, 1997. " Stock Market Efficiency and Economic Efficiency: Is There a Connection?," Journal of Finance, American Finance Association, vol. 52(3), pages 1087-1129, July.
    3. Marco Pagano & Ailsa Röell, 1998. "The Choice Of Stock Ownership Structure: Agency Costs, Monitoring, And The Decision To Go Public," The Quarterly Journal of Economics, MIT Press, vol. 113(1), pages 187-225, February.
    4. Benveniste, Lawrence M. & Busaba, Walid Y., 1997. "Bookbuilding vs. Fixed Price: An Analysis of Competing Strategies for Marketing IPOs," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 32(04), pages 383-403, December.
    5. Benveniste Lawrence M. & Singh Manoj & Wilhelm Jr. , William J., 1993. "The Failure of Drexel Burnham Lambert: Evidence on the Implications for Commercial Banks," Journal of Financial Intermediation, Elsevier, vol. 3(1), pages 104-137, October.
    6. Boot, Arnoud W A & Thakor, Anjan, 1995. "Financial System Architecture," CEPR Discussion Papers 1197, C.E.P.R. Discussion Papers.
    7. Zingales, Luigi, 1995. "Insider Ownership and the Decision to Go Public," Review of Economic Studies, Wiley Blackwell, vol. 62(3), pages 425-48, July.
    8. Hsuan-Chi Chen & Jay R. Ritter, 2000. "The Seven Percent Solution," Journal of Finance, American Finance Association, vol. 55(3), pages 1105-1131, 06.
    9. Lee, Inmoo & et al, 1996. "The Costs of Raising Capital," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 19(1), pages 59-74, Spring.
    10. Franklin Allen & Douglas Gale, 1999. "Diversity of Opinion and Financing of New Technologies," Center for Financial Institutions Working Papers 98-30, Wharton School Center for Financial Institutions, University of Pennsylvania.
    11. Persons, John C & Warther, Vincent A, 1997. "Boom and Bust Patterns in the Adoption of Financial Innovations," Review of Financial Studies, Society for Financial Studies, vol. 10(4), pages 939-67.
    12. Lawrence M. Benveniste & William J. Wilhelm, 1997. "Initial Public Offerings: Going By The Book," Journal of Applied Corporate Finance, Morgan Stanley, vol. 10(1), pages 98-108.
    13. Hanley, Kathleen Weiss & Wilhelm Jr., William J., 1995. "Evidence on the strategic allocation of initial public offerings," Journal of Financial Economics, Elsevier, vol. 37(2), pages 239-257, February.
    14. Loughran, Tim & Ritter, Jay R. & Rydqvist, Kristian, 1994. "Initial public offerings: International insights," Pacific-Basin Finance Journal, Elsevier, vol. 2(2-3), pages 165-199, May.
    15. Pagano, Marco, 1993. "The flotation of companies on the stock market : A coordination failure model," European Economic Review, Elsevier, vol. 37(5), pages 1101-1125, June.
    16. Chemmanur, Thomas J & Fulghieri, Paolo, 1994. " Investment Bank Reputation, Information Production, and Financial Intermediation," Journal of Finance, American Finance Association, vol. 49(1), pages 57-79, March.
    17. Tufano, Peter, 1989. "Financial innovation and first-mover advantages," Journal of Financial Economics, Elsevier, vol. 25(2), pages 213-240, December.
    18. Avanidhar Subrahmanyam & Sheridan Titman, 1999. "The Going-Public Decision and the Development of Financial Markets," Journal of Finance, American Finance Association, vol. 54(3), pages 1045-1082, 06.
    19. Charles W. Calomiris & Carlos D. Ramirez, 1996. "The Role Of Financial Relationships In The History Of American Corporate Finance," Journal of Applied Corporate Finance, Morgan Stanley, vol. 9(2), pages 52-73.
    20. Benveniste, Lawrence M. & Wilhelm, William J., 1990. "A comparative analysis of IPO proceeds under alternative regulatory environments," Journal of Financial Economics, Elsevier, vol. 28(1-2), pages 173-207.
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