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Evidence of Early-Mover Advantages in Underwriting Spreads

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  • Kenneth Carow

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  • Kenneth Carow, 1999. "Evidence of Early-Mover Advantages in Underwriting Spreads," Journal of Financial Services Research, Springer;Western Finance Association, vol. 15(1), pages 37-55, February.
    • Handle: RePEc:kap:jfsres:v:15:y:1999:i:1:p:37-55
    DOI: 10.1023/A:1008034303050
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    References listed on IDEAS

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    2. Tufano, Peter, 1989. "Financial innovation and first-mover advantages," Journal of Financial Economics, Elsevier, vol. 25(2), pages 213-240, December.
    3. 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 275-287, March.
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    6. Carter, Richard B & Manaster, Steven, 1990. "Initial Public Offerings and Underwriter Reputation," Journal of Finance, American Finance Association, vol. 45(4), pages 1045-1067, September.
    7. Schmalensee, Richard, 1982. "Product Differentiation Advantages of Pioneering Brands," American Economic Review, American Economic Association, vol. 72(3), pages 349-365, June.
    8. Miller, Merton H., 1986. "Financial Innovation: The Last Twenty Years and the Next," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 21(4), pages 459-471, December.
    9. 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.
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    13. 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.
    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. Van Horne, James C, 1985. "Of Financial Innovations and Excesses," Journal of Finance, American Finance Association, vol. 40(3), pages 621-631, July.
    16. Silber, William L, 1983. "The Process of Financial Innovation," American Economic Review, American Economic Association, vol. 73(2), pages 89-95, May.
    17. 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 1115-1138, December.
    18. 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.
    19. 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.
    20. Mandelker, Gershon & Raviv, Artur, 1977. "Investment Banking: An Economic Analysis of Optimal Underwriting Contracts," Journal of Finance, American Finance Association, vol. 32(3), pages 683-694, June.
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    Cited by:

    1. David Encaoua & Dominique Guellec & Catalina Martínez, 2010. "Sistemas de patentes para fomentar la innovación: Lecciones de análisis económico," Working Papers 1015, Instituto de Políticas y Bienes Públicos (IPP), CSIC.
    2. Constantin Laura-Gabriela & Cernat-Gruici Bogdan & Iamandi Irina-Eugenia, 2014. "Investigating Financial Innovation And European Capital Markets. The Case Of Catastrophe Bonds And Listed Reinsurance Companies," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 6, pages 6-15, December.
    3. Daniels, Kenneth N. & Vijayakumar, Jayaraman, 2007. "Does underwriter reputation matter in the municipal bond market?," Journal of Economics and Business, Elsevier, vol. 59(6), pages 500-519.
    4. Bos, Jaap W.B. & Kolari, James W. & van Lamoen, Ryan C.R., 2013. "Competition and innovation: Evidence from financial services," Journal of Banking & Finance, Elsevier, vol. 37(5), pages 1590-1601.
    5. Encaoua, David & Guellec, Dominique & Martinez, Catalina, 2006. "Patent systems for encouraging innovation: Lessons from economic analysis," Research Policy, Elsevier, vol. 35(9), pages 1423-1440, November.
    6. Awrey, Dan, 2013. "Toward a supply-side theory of financial innovation," Journal of Comparative Economics, Elsevier, vol. 41(2), pages 401-419.
    7. de Jong, Abe & Roosenboom, Peter & Schramade, Willem, 2006. "Bond underwriting fees and keiretsu affiliation in Japan," Pacific-Basin Finance Journal, Elsevier, vol. 14(5), pages 522-545, November.
    8. Charupat, Narat & Prisman, Eliezer Z., 2004. "An essay on financial innovation: The case of instalment receipts," Journal of Banking & Finance, Elsevier, vol. 28(1), pages 129-156, January.
    9. Hasan Cömert & Gerald Epstein, 2016. "Finansal Yenilik Yazinindaki Son Gelismeler," STPS Working Papers 1604, STPS - Science and Technology Policy Studies Center, Middle East Technical University, revised Jan 2016.
    10. de Jong, A. & Roosenboom, P.G.J. & Schramade, W.L.J., 2005. "Bond underwriting fees and keiretsu affiliation in Japan," ERIM Report Series Research in Management ERS-2005-038-F&A, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.

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