Do Bank Relationships Affect the Firm's Underwriter Choice in the Corporate-Bond Underwriting Market?

By A. Yasuda. 2005

294 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/27d52f187e2ff7baf7d86b2dc0d233040f260c0a

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Citations in the corpus

The Economics of Conflicts of Interest in Financial Institutions (2006, unknown): “Yasuda (2005) finds that bank relationships have a positive and significant effect on underwriter choice above and beyond the effect of the relationship on the fees paid by the issuer.”
Corporate Leverage, Debt Maturity and Credit Supply: The Role of Credit Default Swaps (2013, background): “For example, Yasuda (2005) finds that serving as lead arranger on syndicated loans is strongly positively related to the probability that a bank is chosen as the bond underwriter.”
Do Investment Banks Matter for M&A Returns? (2011, unknown): “However, clients may derive other services from banking relationships, such as lending and underwriting, which rationally induces them to retain their existing bank (see Yasuda (2005), Ljungqvist, Marston and Wilhelm (2006, 2009)).”
On the Benefits of Concurrent Lending and Underwriting (2005, background): “…of public securities.5 These effects are ascertained through the pricing of underwritten securities (see, e.g., Puri (1996), Gande et al. (1997), Yasuda (2005), Benzoni and Schenone (2004)) or through long-run performance (see, e.g., Ang and Richardson (1994), Kroszner and Rajan (1994), Puri…”
Competition and regulation in the banking sector: A review of the empirical evidence on the sources of bank rents (2007, background): “B. Finally, and in a very different setting, Yasuda (2005) finds that pre-existing relationships with firms issuing corporate bonds in the US 40 allow the underwriting banks to charge 1 to 4 percent (of the issue size) extra.”
It’s What You Say and What You Buy: A Holistic Evaluation of the Corporate Credit Facilities (2020, background): “Finally, this paper contributes to the literature studying the value of underwriter relationships in the primary market (e.g., Fang, 2005, Yasuda, 2005, Andres et al., 2014).”