Commercial banks as underwriters: Implications for the going public process

Article Abstract:

There has been controversy about the appropriate scope of banks' activities in the US, and there are concerns about whether banks should be allowed to underwrite securities, whether they should be allowed to own equity in companies and if holding equity will change their incentives when certifying the firm's securities. A model is provided to address such concerns, showing that commercial banks as lenders to companies, can gain better prices than investment houses.

Research, Banking industry, Investment banks

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Do the individuals closest to internet firms believe they are overvalued?

Article Abstract:

Research is presented on internet company valuations and presents the views of industry experts on the real value of such companies.

Economic Views, Analysis, Finance, Economic policy, Information services, Information services industry, Present value

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