Venture capital investments by IPO underwriters: Certification or conflict of interest ?
本文档由 enbook 分享于2010-11-06 17:44
We study IPO pricing when underwriters can be venture capital investors in issuers and evaluate the effects of such equity investments by lead and non-lead underwriters. Theoretically, prior underwriter venture investment has several effects. First, it can improve underwriter access to IPO issuer information, thereby enhancing the credibility of due diligence investigations, whi..
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