Browsing FREDS Research Publications by Author "Megginson, William L."

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Prestige without purpose? Reputation, differentiation, and pricing in US equity underwriting

Fernando, Chitru S.; Gatchev, Vladimir A.; May, Anthony D.; Megginson, William L. (Elsevier B.V., 2015-06)

Clustering of IPO underwriting spreads at 7% poses two important puzzles: Is the market for U.S. equity underwriting services anti-competitive and why do equity underwriters invest in reputation-building? This study helps ...
The value of investment banking relationships: Evidence from the collapse of Lehman brothers

Fernando, Chitru S.; Megginson, William L.; May, Anthony D. (John Wiley and Sons, 2012-02)

We examine the long-standing question of whether firms derive value from investment bank relationships by studying how the Lehman collapse affected industrial firms that received underwriting, advisory, analyst, and ...