On Excess Compensation Earned by Underwriters in Firm Commitment Initial Public Offerings of Common Stock: An Empirical Analysis

This paper examines compensation for the underwriting activity in firm commitment initial public offerings (IPOs) of common stock in the U.S. When compensation for origination, management and marketing efforts are excluded from total underwriter compensation, we find that the portion of the total co...

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Veröffentlicht in:	The journal of entrepreneurial finance 1992-12, Vol.2 (1), p.53-69
Hauptverfasser:	Klein, Daniel P., Grube, R. Corwin, Joy, O. Maurice
Format:	Artikel
Sprache:	eng
Schlagworte:	Common stock Compensation Efficient markets Initial public offerings Investment bankers Investments Risk premiums Studies Underwriting Unreasonable compensation
Online-Zugang:	Volltext
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