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Cited by 213

The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.

Commercial banks as underwriters: implications for the going public process

Open access
Puri, Manju·1999·Journal of Financial Economics
DOI 10.1016/s0304-405x(99)00034-3
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Abstract

Commercial bank entry into securities underwriting can affect underwriter behavior because, unlike investment houses, banks also lend to firms. This raises several issues. Are banks better certifiers of firms’ securities than investment houses? If banks hold equity in firms rather than debt, does this make certification more credible? Would one type of underwriter drive out the other? This paper provides a model for analyzing such issues, and derives several interesting results. First, banks, as lenders to firms, can actually be better certifiers than investment houses. Second, equity holding can hinder banks’ certification ability. Finally, banks and investment houses can co-exist.

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Metadata

Authors
Puri, M.
Venue
Journal of Financial Economics
Publisher
Elsevier BV
Published
1999-10
Volume
54
Issue
2
Pages
133-163
ISSN
0304-405X (ISSN-L)
DOI
10.1016/s0304-405x(99)00034-3
OpenAlex
W2085436370
Cited by
213
References
3
FWCI
49.27
Type
journal article
Language
en
Open access
hybrid

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CoChat. (2026). Citation check: Commercial banks as underwriters: implications for the going public process. https://app.cochat.ai/papers/10.1016/s0304-405x(99)00034-3
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Puri, M. (1999). Commercial banks as underwriters: implications for the going public process. Journal of Financial Economics. https://doi.org/10.1016/s0304-405x(99)00034-3

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.