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The Role and Impact of Financial Advisors in the Market for Municipal Bonds

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  • Jayaraman Vijayakumar

    ()

  • Kenneth Daniels

    ()

Abstract

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Suggested Citation

  • Jayaraman Vijayakumar & Kenneth Daniels, 2006. "The Role and Impact of Financial Advisors in the Market for Municipal Bonds," Journal of Financial Services Research, Springer;Western Finance Association, vol. 30(1), pages 43-68, August.
  • Handle: RePEc:kap:jfsres:v:30:y:2006:i:1:p:43-68
    DOI: 10.1007/s10693-006-8739-y
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    References listed on IDEAS

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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(2), pages 183-195, June.
    2. Kale, Jayant R. & Kini, Omesh & Ryan, Harley E., 2003. "Financial Advisors and Shareholder Wealth Gains in Corporate Takeovers," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 38(3), pages 475-501, September.
    3. Fairchild, Lisa M. & Koch, Timothy W., 1998. "The Impact of State Disclosure Requirements on Municipal Yields," National Tax Journal, National Tax Association, vol. 51(n. 4), pages 733-53, December.
    4. Trost, Robert P & Lee, Lung-Fei, 1984. "Technical Training and Earnings: A Polychotomous Choice Model with Selectivity," The Review of Economics and Statistics, MIT Press, vol. 66(1), pages 151-156, February.
    5. Kidwell, David S. & Koch, Timothy W. & Stock, Duane R., 1987. "Issue size and term-structure segmentation effects on regional yield differentials in the municipal bond market," Journal of Economics and Business, Elsevier, vol. 39(4), pages 339-347, November.
    6. Fairchild, Lisa M. & Koch, Timothy W., 1998. "The Impact of State Disclosure Requirements on Municipal Yields," National Tax Journal, National Tax Association;National Tax Journal, vol. 51(4), pages 733-753, December.
    7. 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.
    8. Linda Allen & Stavros Peristiani & Julapa Jagtiani & Anthony Saunders, 2002. "The role of bank advisors in mergers and acquisitions," Staff Reports 143, Federal Reserve Bank of New York.
    9. Kidwell, David S. & Sorensen, Eric H. & Wachowicz, John M., 1987. "Estimating the Signaling Benefits of Debt Insurance: The Case of Municipal Bonds," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 22(3), pages 299-313, September.
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    Citations

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    Cited by:

    1. Dougal, Casey & Gao, Pengjie & Mayew, William J. & Parsons, Christopher A., 2019. "What’s in a (school) name? Racial discrimination in higher education bond markets," Journal of Financial Economics, Elsevier, vol. 134(3), pages 570-590.
    2. Tima T. Moldogaziev & Sharon N. Kioko & W. Bartley Hildreth, 2017. "Impact of Bankruptcy Eligibility Requirements and Statutory Liens on Borrowing Costs," Public Budgeting & Finance, Wiley Blackwell, vol. 37(4), pages 47-73, December.
    3. Martin J. Luby & Tima Moldogaziev, 2014. "Tax Increment Debt Finance and the Great Recession," National Tax Journal, National Tax Association;National Tax Journal, vol. 67(3), pages 675-696, September.
    4. Stephan Whitaker, 2014. "Financial Innovations and Issuer Sophistication in Municipal Securities Markets," Working Papers (Old Series) 1404, Federal Reserve Bank of Cleveland, revised 01 Jun 2014.

    More about this item

    Keywords

    Municipal bonds; Monitoring; Financial advisors; G21; G24; G38;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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