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Do IPO Underwriting Relationships Affect the Subsequent Lending Business
| Content Provider | Semantic Scholar |
|---|---|
| Author | Chen, H. Chen, Li-Ping Ho, Keng-Yu |
| Copyright Year | 2006 |
| Abstract | This study investigates the relationship between IPO underwriting and subsequent lending business. We find that if a lender underwrites the IPO of a firm, it is more likely for this lender to provide the IPO firm with future loans and to charge higher interest rate, compared to a lender lacking such an underwriting relationship. The results are robust to the sample restricted to firms that have exclusive post-IPO loans. However, there is no significant difference on the above findings whether the underwriters are commercial banks or not. Thus, for both commercial banks and investment banks, entering into IPO underwriting could benefit their subsequent lending business. JEL Classification: G00; G20; G30 |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://www.fin.ntu.edu.tw/~conference/conference2006/proceedings/proceeding/5/5-4(A84).pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
