The Role of IPO Underwriting Syndicates: Pricing, Information Production, and Underwriter Competition

By Shane A. Corwin, Paul H. Schultz. 2005

418 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/e7934e7d16b86359c32f0b17b110ee28b6110acc

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Citations in the corpus

Brokerage Commissions and Institutional Trading Patterns (2009, neutral): “We track them using Ljungqvist, Marston, and Wilhelm (2006), Corwin and Schultz (2005), and several news and information services.”
Initial Public Offerings: A synthesis of the Literature and Directions for Future Research (2018, background): “The trend in the last two decades has been toward greater number of underwriters acting as co-managers; and at the same time toward fewer number of investment banks as part of the syndicate (Corwin and Schultz, 2005).”
Affiliated mutual funds and analyst optimism (2007, neutral): “A business relationship between the issuer and non-managing syndicate is weak or it is not present (Michaely and Womack, 1999; Ellis, Michaely, and O'Hara, 2000; Corwin and Schultz, 2005).”
Managing Underwriters and the Marketing of Seasoned Equity Offerings (2010, positive): “This definition of information production is consistent with the implicit definition used in the literature (e.g., Benveniste and Spindt (1989), Corwin and Schultz (2005)).”
What Determine Financial Analysts' Career Outcomes During Mergers? (2009, methodology): “We supplement our sample with a list of 81 investment bank mergers from 1997 to 2002 in Corwin and Schultz (2005) and a list of 26 principal bank mergers from 1988 to 2002 provided in Ljungqvist et al. (2006).”
Scaling the Hierarchy: How and Why Investment Banks Compete for Syndicate Co-Management Appointments (2009, background): “The positive (and sometimes significant) coefficients for the lead bank's participation in the candidate's previous syndicates suggest an element of reciprocity of the sort identified by Corwin and Schultz (2005) for IPOs in the late 1990s.”
The Marketing of Seasoned Equity Offerings (2010, neutral): “The bookbuilding literature has focused on the acquisition of information by underwriters about the state of demand, e.g., Benveniste and Spindt (1989) and Corwin and Schultz (2005).”
Does Prospect Theory Explain IPO Market Behavior (2005, methodology): “Successor entities are identified using the information in Corwin and Schultz (2003) and Ljungqvist, Marston, and Wilhelm (2003).”
Analyst Behavior Following IPOs: The “Bubble Period” Evidence (2008, result): “This finding contradicts the conclusions of Chen and Ritter (2000), Corwin and Schultz (2005), and Das, Guo, and Zhang (2006), although none of these studies distinguishes between initiations at the end of the quiet period and subsequent initiations.”