Do you really want to ask an underwriter how much money you should leave on the table?

This paper analyses whether the owners of companies seeking to list will leave less money on the table if underwriters are employed to price and market the issue. Our findings indicate that limited liability and Industrial company initial public offerings (IPOs) that have used underwriters have left
more money on the table than those not employing underwriters. Not only is there a direct cost in employing an underwriter but this study suggests there might also be an indirect cost. We also find that a positive forecast earnings per share yield may be useful in reducing the amount of money left on the table.

Insurance underwriter or financial development fund: what role for reserve pooling in Latin America?

Includes bibliography

Civil Liability as an Enforcement Tool of Securities Underwriter Gatekeeping Duty

This book is dedicated to the Law and Economics analysis of civil liability of securities underwriters for the damage caused by material misstatements of corporate information by securities issuers. It seeks to answer a series of important questions. Who the are underwriters and what is their main role in the securities offering? Why there is a need for legal intervention in the underwriting market? What is so special about civil liability as an enforcement tool? How is civil liability used in a real world and does it really reach its goals? Finally, is there a need for a change and, if so, by what means?

The Baltimore underwriter : a monthly publication devoted to the interests of insurance.

Subtitle varies.

Mutual underwriter.

Description based on: vol. 33, no. 1, April 15, 1913.

The National underwriter.

Description based on: 25th year, no. 2 (Jan. 13, 1921); title from cover.

The weekly underwriter.

Description based on: Vol. 136, no. 1 (Jan. 2, 1937); title from cover.

The American underwriter magazine and insurance review

Mode of access: Internet.

Spectator Handy Guide to Standard and Special Life Insurance Contracts, Non-Forfeiture Values and Actuarial Tables Useful to the Life Underwriter

Mode of access: Internet.

The Relationship Between Liquidity, Trading Activity and Return - Studies of the Finnish and Swedish Stock Markets

Liquidity, or how easy an investment is to buy or sell, is becoming increasingly important for financial market participants. The objective of this dissertation is to contribute to the understanding of how liquidity affects financial markets. The first essays analyze the actions taken by underwriters immediately after listing to improve liquidity of IPO stock. To estimate the impact of underwriter activity on the pricing of the IPOs, the order book during the first weeks of trading in the IPO stock is studied. Evidence of stabilization and liquidity enhancing activities by underwriters is found. The second half of the dissertation is concerned with the daily trading of stocks where liquidity may be impacted by policy issues such as changes in taxes or exchange fees and by opening the access to the markets for foreign investors. The desirability of a transaction tax on securities trading is addressed. An increase in transaction tax is found to cause lower prices and higher volatility. In the last essay the objective is to determine if the liquidity of a security has an impact on the return investors require. The results support the notion that returns are negatively correlated to liquidity.

Perfil CIO Colombiano

La identificación del perfil del Chief Information Officer (CIO) en el entorno empresarial nacional responde a la necesidad de comparar o constatar el rol aplicado en Colombia en relación a la expectativa de la academia y la pertinencia que lleva en un entorno empresarial global. La migración del concepto de CIO y sus definiciones es resultado de la implementación local de prácticas, teorías y estrategias de alto impacto en mercados internacionales. En el presente documento, se profundiza en las competencias estratégicas y roles prácticos que abarca el perfil del CIO como es visto desde aportes académicos y casuísticos en fuentes internacionales líderes en la construcción de conocimiento.

Financial characteristics of Australian initial public offerings from 1994 to 1999

A variety of financial characteristics of Australian initial public offerings (IPOs) for the period 1994-1999 are explored. A number of previous Australian studies have investigated the initial day underpricing and longer term underperformance of IPOs and this study updates those papers. This paper partitions the IPO data into no liability/limited liability; share option/no share option; underwriter option/no underwriter option and dividend reinvestment/no dividend reinvestment characteristics to better understand the types of IPOs that list on the Australian Stock Exchange. The data supports the findings of previous studies in that IPOs are underpriced at the time of listing and underperform the market in the first year following their listing.