Wanna Dance? How Firms and Underwriters Choose Each Other

By Chitru S. Fernando, Vladimir A. Gatchev, P. Spindt. 2005

290 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/26f43c211ea68545d96f62cfc4a74388b8f1c56b

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Citations in the corpus

Does Prospect Theory Explain IPO Market Behavior (2005, methodology): “Loughran and Ritter assume the CEO anchors his valuation on the midpoint of the indicative price range filed with the S.E.C.”
Value creation in university-firm research collaborations: a matching approach (2008, unknown): “…(Mortensen, 1988), as well as the formation of a wide range of business relationships such as those between firms and their IPO underwriters (Fernando et al., 2005), start-ups and VC investors (Sorensen, 2007), or inter-firm contracting in supply-chain networks (Ostrovsky, 2004), among…”
The Effect of Issuer Conservatism on IPO Pricing and Performance (2013, unknown): “The negative coefficient is consistent with Fernando et al. (2005) who report that top underwriters often limit themselves to the best IPOs coming to market.”
Do Auctions Induce a Winner's Curse? New Evidence from the Corporate Takeover Market (2008, background): “The results suggest that bidders that lack in-house expertise and that are not clients of top-tier investment banks fare relatively worse in a takeover transaction, along the lines of the sorting model of Fernando, Gatchev, and Spindt (2005) .”
Perceptions and Price: Evidence from CEO Presentations at IPO Roadshows (2017, methodology): “Specifically, we include Firm_Age calculated as the natural log of 1 plus the firm’s age at IPO (Fernando, Gatchev, and Spindt, 2005), Uncertainty as the percent of words in the firm’s final registration statement that are in the uncertain, negative, or weak modal word lists (Loughran and McDonald,…”
Do More Reputable Financial Institutions Reduce Earnings Management by IPO Issuers (2011, background): “Along these lines, Fernando et al. (2005) argue that underwriter ability and issuer quality are complementary, and completed underwriting contracts are mutually agreed upon, indicating that the interests of both parties coincide.”
On the Benefits of Concurrent Lending and Underwriting (2005, background): “Also, previous papers indicate that firms will be more likely to switch to an underwriter who has higher quality equity analyst coverage and is ranked above the original underwriter (see, e.g., Krigman et al. (2001), Fernando et al. (2005)).”