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Currying Favor to Win IPO Mandates.pdf
- This paper uses a sample of recent U.S. IPOs to investigate whether a bank can win IPO mandates by issuing flattering analyst recommendations to recent IPOs. We find that security analysts increase their bank s chance of co-managing an IPO when they have issued generous recommendations to recent IPOs managed by the IPO s lead manager. However, this result holds only for prestigious banks. Less prestigious banks, whose recommendations are less influential, do not obtain such rewards from lead managers. We also find that security analysts increase their bank s chance of managing future IPOs when they have issued generous recommendations to recent IPOs managed by their own bank. This result, however, holds only for non-prestigious banks. This suggests that these banks, which are not the issuers first choice, advertize their services by issuing generous analyst coverage to their recent offerings.
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currying the victorian novel mira nair's 'indianised' version腐熟的维多利亚小说mira nair的"印度化版本.pdf
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向豆丁求助：有没有currying?
