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| Tekijä: | Karels, G. V. Prakash, A. J. Smyser, M. |
| Otsikko: | The cost of dealer services in the US corporate band markets |
| Lehti: | Journal of Business Finance and Accounting
1991 : JUN, VOL. 18:4, p. 483-495 |
| Asiasana: | CORPORATE FINANCE STOCK MARKETS SERVICE USA COSTS SECURITIES ECONOMETRICS |
| Kieli: | eng |
| Tiivistelmä: | The pricing of dealer services in the market for common stocks has received wide attention in the financial literature. However little attention has been given to the cost of dealer services in the corporate band market. The purpose is to empirically examine the factors associated with the pricing of dealer services in the USA corporate band market. The results indicate that some unique factors which differentiate fixed income securities from common shares are significantly related to the pricing of these dealer services. Furthermore, an explanation is proposed as to why these determinants fail to produce the econometric fit as found in studies of spreads in common stocks. |
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