Journal of East China Normal University (Philosoph ›› 2011, Vol. 43 ›› Issue (3): 136-143.

• 证券投资问题 • Previous Articles     Next Articles

Underwriter’s Reputation, Underwriting Fee, and the Over-raised Capital of the Seconds Tier Market

Wang xia, Xu xiao-dong & wang chen

  

  1. Business School, East China Normal University, Shanghai 200241; An-tai School of Economics and Management, Shanghai Jiao Tong University, Shanghai 200052
  • Received:1900-01-01 Revised:1900-01-01 Online:2011-05-15 Published:2011-07-29
  • Contact: Wang xia, Xu xiao-dong & wang chen

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Abstract: This paper examines the relationships among the reputation of underwriter, underwriting fee, and the over-raised capital of the seconds tier market. The empirical results show that, the underwriter’s reputation has a significant positive effect on the over-raised capital, the higher the underwriter’s reputation is, the more over-raised capital that the company can gets. The underwriting fee is positively associated with the over-raised capital. Besides this, the underwriter’s reputation also has a significant effect on the amount of underwriting fee.

Key words: over-raised capital, underwriter’s reputation, listed firms in the seconds tier market, underwriting fee