A note on underwriter competition and initial public offerings

Article Abstract:

Initial public offerings (IPO) are underpriced due to competition among underwriters. Underpricing is also found to be inversely related to the reputation of its underwriters. Despite the underprice, the total cost of the offering to the issuer remains lower when more issues are offered. However, the difference is reflected in lower underwriter compensation when measured on a per dollar basis, rather than in the IPO returns.

Investment Banking and Securities Dealing, Investment Banking, Capital Management-Stock Sales, Evaluation, Prices and rates, Stocks, Investment banks, Stock prices, Going public (Securities), Initial public offerings, Stock offerings

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Competition on the Nasdaq and the growth of electronic communication networks

Article Abstract:

Development of electronic communication networks and its implications on competition in The Nasdaq Stock Market Incorporated is examined.

General services, Forecasts, trends, outlooks, Securities & Commodities Services, Securities, Commodity Contracts, and Other Financial Investments and Related Activities, United States, Competition (Economics), Forecasts and trends, Securities industry, Market trend/market analysis, Company systems management, Information management, Growth, Company growth, Nasdaq Stock Market Inc., NDAQ, Electronic communication networks (Equities trading)

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