Why don’t U.S. issuers demand European fees for IPOs?
IPO techniques have converged over the last decade, but in this paper we find that fees charged by investment banks have not. Chen and Ritter (2000) were the first to document the “7% solution” for U.S. IPOs. We find that gross spreads in the U.S. have become even more clustered at exactly 7% in the...
| Hauptverfasser: | , , |
|---|---|
| Format: | Working paper |
| Sprache: | English |
| Veröffentlicht: |
Oxford Finance
2009
|