Which factors affect bond underwriting fees? The role of banking relationships

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dc.contributor.author Iannotta, Giuliano en_US
dc.contributor.author Navone, Marco en_US
dc.contributor.editor en_US
dc.date.accessioned 2012-02-02T11:03:27Z
dc.date.available 2012-02-02T11:03:27Z
dc.date.issued 2008 en_US
dc.identifier 2010006293 en_US
dc.identifier.citation Iannotta Giuliano and Navone Marco 2008, 'Which factors affect bond underwriting fees? The role of banking relationships', Wiley-Blackwell, vol. 14, no. 5, pp. 944-961. en_US
dc.identifier.issn 1354-7798 en_US
dc.identifier.other C1UNSUBMIT en_US
dc.identifier.uri http://hdl.handle.net/10453/15837
dc.description.abstract The question of which factors are relevant in determining bond underwriting fees is empirically investigated by analysing 2,202 bond issues completed by European firms during the 1993 ? 2003 period. Four major results emerge from the analysis. First, the introduction of the single currency in 1999 has generated an increase in competition among banks, and, as a result, a reduction in underwriting fees. Second, a strong relationship with the issuer's main bank reduces the level of underwriting fees. Third, new issuers are charged with lower underwriter fees relative to firms that have completed issues without building any strong relationship with a bank. Fourth, higher reputation banks charge lower underwriting fees. The implications of these findings are also discussed. en_US
dc.language en_US
dc.publisher Wiley-Blackwell en_US
dc.relation.isbasedon http://dx.doi.org/10.1111/j.1468-036X.2007.00426.x en_US
dc.title Which factors affect bond underwriting fees? The role of banking relationships en_US
dc.parent European Financial Management en_US
dc.journal.volume 14 en_US
dc.journal.number 5 en_US
dc.publocation Germany en_US
dc.identifier.startpage 944 en_US
dc.identifier.endpage 961 en_US
dc.cauo.name BUS.School of Finance and Economics en_US
dc.conference Verified OK en_US
dc.for 150200 en_US
dc.personcode 0000071339 en_US
dc.personcode 109036 en_US
dc.percentage 100 en_US
dc.classification.name Banking, Finance and Investment en_US
dc.classification.type FOR-08 en_US
dc.edition en_US
dc.custom en_US
dc.date.activity en_US
dc.location.activity en_US
dc.description.keywords undewriting;relationship;European bonds en_US
dc.staffid en_US
dc.staffid 109036 en_US

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