Why do firms pay high underwriting fees? SEO withdrawal, underwriter certification and CEO turnover
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DOI: 10.1016/j.intfin.2017.05.009
Abstract: CEO turnover increases when announced stock issues are withdrawn, even after controlling for endogeneity and firm performance. However, greater underwriter certification of a stock issue is associated with lower CEO turnover. Together, these two findings… read more here.
Keywords: ceo; underwriter certification; underwriting fees; ceo turnover ... See more keywords