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Author: | Krigman, L. Shaw, W. H. Womack, K. L. |
Title: | Why do firms switch underwriters? |
Journal: | Journal of Financial Economics
2001 : MAY-JUN, VOL. 60:2-3, p. 245-284 |
Index terms: | Initial public offerings Pricing |
Freeterms: | Seasoned equity offerings (SEO) |
Language: | eng |
Abstract: | In the mid-1990s, 30% of firms completing an SEO within three years of their IPO switched lead underwriter. This article provides evidence on why they switched. Contrary to predictions of prior research, there is little evidence that firms switch due to dissatisfaction with underwriter performance at the time of the IPO. |
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