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Evidence of Early-Mover Advantages in Underwriting Spreads

  • Kenneth Carow
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    File URL: http://hdl.handle.net/10.1023/A:1008034303050
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    Article provided by Springer in its journal Journal of Financial Services Research.

    Volume (Year): 15 (1999)
    Issue (Month): 1 (February)
    Pages: 37-55

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    Handle: RePEc:kap:jfsres:v:15:y:1999:i:1:p:37-55
    Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=102934

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    1. Kidwell, David S. & Marr, M. Wayne & Thompson, G. Rodney, 1984. "SEC Rule 415: The Ultimate Competitive Bid," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 19(02), pages 183-195, June.
    2. Allen, David S & Lamy, Robert E & Thompson, G Rodney, 1990. " The Shelf Registration of Debt and Self Selection Bias," Journal of Finance, American Finance Association, vol. 45(1), pages 275-87, March.
    3. Tufano, Peter, 1989. "Financial innovation and first-mover advantages," Journal of Financial Economics, Elsevier, vol. 25(2), pages 213-240, December.
    4. Michael W. Becker & Michael S. Long, 1997. "An Explanation of Underwriting Spread Differentials on Complex Securities," Financial Management, Financial Management Association, vol. 26(2), Summer.
    5. Miller, Merton H., 1986. "Financial Innovation: The Last Twenty Years and the Next," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 21(04), pages 459-471, December.
    6. Schmalensee, Richard, 1982. "Product Differentiation Advantages of Pioneering Brands," American Economic Review, American Economic Association, vol. 72(3), pages 349-65, June.
    7. Milgrom, Paul & Roberts, John, 1982. "Limit Pricing and Entry under Incomplete Information: An Equilibrium Analysis," Econometrica, Econometric Society, vol. 50(2), pages 443-59, March.
    8. A. M. Spence, 1981. "The Learning Curve and Competition," Bell Journal of Economics, The RAND Corporation, vol. 12(1), pages 49-70, Spring.
    9. Van Horne, James C, 1985. " Of Financial Innovations and Excesses," Journal of Finance, American Finance Association, vol. 40(3), pages 621-31, July.
    10. Linn, Scott C. & Michael Pinegar, J., 1988. "The effect of issuing preferred stock on common and preferred stockholder wealth," Journal of Financial Economics, Elsevier, vol. 22(1), pages 155-184, October.
    11. Carter, Richard B & Manaster, Steven, 1990. " Initial Public Offerings and Underwriter Reputation," Journal of Finance, American Finance Association, vol. 45(4), pages 1045-67, September.
    12. Ederington, Louis H, 1978. "Bidding for Securities: The Effect on the Issuer's Interest Costs," The Journal of Business, University of Chicago Press, vol. 51(4), pages 673-86, October.
    13. Baron, David P & Holmstrom, Bengt, 1980. " The Investment Banking Contract for New Issues under Asymmetric Information: Delegation and the Incentive Problem," Journal of Finance, American Finance Association, vol. 35(5), pages 1115-38, December.
    14. Cornett, Marcia Millon & Davidson, Wallace III & Rangan, Nanda, 1996. "Deregulation in investment banking: Industry concentration following Rule 415," Journal of Banking & Finance, Elsevier, vol. 20(1), pages 85-113, January.
    15. Smith, Clifford Jr., 1977. "Alternative methods for raising capital : Rights versus underwritten offerings," Journal of Financial Economics, Elsevier, vol. 5(3), pages 273-307, December.
    16. Silber, William L, 1983. "The Process of Financial Innovation," American Economic Review, American Economic Association, vol. 73(2), pages 89-95, May.
    17. Leland E. Crabbe & Jean Hewlege, 1994. "Alternative Tests of Agency Theories of Callable Corporate Bonds," Financial Management, Financial Management Association, vol. 23(4), Winter.
    18. Mandelker, Gershon & Raviv, Artur, 1977. "Investment Banking: An Economic Analysis of Optimal Underwriting Contracts," Journal of Finance, American Finance Association, vol. 32(3), pages 683-94, June.
    19. Denis, David J, 1991. "Shelf Registration and the Market for Seasoned Equity Offerings," The Journal of Business, University of Chicago Press, vol. 64(2), pages 189-212, April.
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