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Do you really want to ask an underwriter how much money you should leave on the table?

Dimovski, William and Brooks, Robert 2004, Do you really want to ask an underwriter how much money you should leave on the table?, Journal of international financial markets, institutions and money, vol. 14, no. 3, pp. 267-280.

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Title Do you really want to ask an underwriter how much money you should leave on the table?
Author(s) Dimovski, William
Brooks, Robert
Journal name Journal of international financial markets, institutions and money
Volume number 14
Issue number 3
Start page 267
End page 280
Publisher Elsevier B.V.
Place of publication Binghamton, NY.
Publication date 2004-07
ISSN 1042-4431
Keyword(s) IPOs
underwriters
Australian capital markets
Summary This paper analyses whether the owners of companies seeking to list will leave less money on the table if underwriters are employed to price and market the issue. Our findings indicate that limited liability and Industrial company initial public offerings (IPOs) that have used underwriters have left
more money on the table than those not employing underwriters. Not only is there a direct cost in employing an underwriter but this study suggests there might also be an indirect cost. We also find that a positive forecast earnings per share yield may be useful in reducing the amount of money left on the table.
Language eng
Field of Research 150103 Financial Accounting
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2003 Elsevier B.V.
Persistent URL http://hdl.handle.net/10536/DRO/DU:30002403

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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Created: Mon, 07 Jul 2008, 08:23:46 EST