Underwriting Services and the New Issues Market

Underwriting Services and the New Issues Market integrates practice, theory and evidence from the global underwriting industry to present a comprehensive description and analysis of underwriting practices. After covering the regulation and mechanics of the underwriting process, it considers economic topics such as underwriting costs and compensation, the pricing of new issues, the stock price and operating performance of issuing firms, the evaluation of new issue decisions, and an analysis of the many choices issuers face in structuring new issues. Unlike other books, it systematically develops a critical perspective about underwriting practices, both in the U.S. and international markets, and with a level of detail unavailable elsewhere and an approach that reveals how financial institutions deliver underwriting services. Underwriting Services and the New Issues Market delivers an innovative and long overdue look at security issuance. Foreword by Frank Fabozzi Covers underwriting contracts and arrangements on pricing and costsFocuses on the financial consequences of the issuance decision for the firmDescribes and evaluates decisions regarding the features and structure of new security offerings. INDICE: 1. The Underwriting Business: Functions, Organization and Structure 2. The New Issues Markets 3. Regulation of the New Issues Market in the U.S. 4. The Mechanics of the Issuance Process 5. Aftermarket Underwriting Activities 6. Underwriting Costs and Compensation 7. Alternative Offering Methods in New Issues Markets 8. Assessing the Price Performance of New Issues 9. Theories of New Issue Pricing 10. The Price and Operating Performance of Initial Public Offerings 11. The Price and Operating Performance of Seasoned Equity Offers, Debt Offers, and Other Offerings 12. The Empirical Evidence on Underwriting Spreads 13. International Offers: Mechanics and Evidence 14. The Decision to Issue Securities 15. Structuring Securities Offerings 16. New Issue Decisions: The Underwriter, Syndicate, Auditor and Legal Counsel

• ISBN: 978-0-12-803282-4
• Editorial: Academic Press
• Encuadernacion: Cartoné
• Páginas: 310
• Fecha Publicación: 01/08/2017
• Nº Volúmenes: 1
• Idioma: Inglés