Search Results
Conference Paper
The competitive impact of foreign underwriters in the United States
Conference Paper
Bank securities powers: are there diversification gains?
Conference Paper
Tying knots: lending to win equity underwriting business
This article examines the practice of ?tying,? which occurs when an underwriter lends to an issuer around the time of a public securities offering. We examine whether there are efficiencies from tying lending and underwriting which lead to benefits for issuers and underwriters. We find evidence consistent with tying occurring for issues when there are informational economies of scope from combining lending and underwriting. Firms benefit from tying through lower financing costs, as tied issuers receive lower underwriter fees on seasoned equity offerings and discounted loan yield spreads. ...
Journal Article
Uniting investment and commercial banking
Conference Paper
Differences across originators iin CMBS loan underwritten
Conference Paper
Bank relationships and underwriter competition: evidence from Japan
Speech
Housing and the economic recovery
Remarks at the New Jersey Bankers Association Economic Forum, Iselin, New Jersey.
Conference Paper
The future of banking: are \"narrow\" banks the answer?
Conference Paper
Banks and bubbles: how good are bankers at spotting winners?