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Underwriter reputation and asset-backed securitization pricing

Author

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  • Xu, Runguo
  • Dong, Peng

Abstract

This paper analyzes the relationship between the level of underwriters' reputation and corporate ABS issuance spreads, using domestic issuance of corporate bond-type ABS as a research sample from 2017–2022. The study issues that: underwriters' reputation has a significant inverse relationship with corporate ABS issue spreads, and the higher the underwriters' reputation, the smaller the corporate ABS issue spreads, all other things being equal; for issuers with different natures of ownership, their are significant differences in the degree of influence of underwriters' reputation on issue spreads.

Suggested Citation

  • Xu, Runguo & Dong, Peng, 2023. "Underwriter reputation and asset-backed securitization pricing," Finance Research Letters, Elsevier, vol. 58(PB).
    • Handle: RePEc:eee:finlet:v:58:y:2023:i:pb:s1544612323007833
    DOI: 10.1016/j.frl.2023.104411
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    References listed on IDEAS

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