The DOI matches its Crossref record; 47 of the 47 references it cites were found in a registry or an index.
On the Benefits of Concurrent Lending and Underwriting
Open accessAbstract
This paper examines whether there are efficiencies that benefit issuers and underwriters when a financial intermediary concurrently lends to an issuer while also underwriting its public securities offering. We find issuers, particularly noninvestment‐grade issuers for whom informational economies of scope are likely to be large, benefit through lower underwriter fees and discounted loan yield spreads. Underwriters, both commercial banks as well as investment banks, engage in concurrent lending and provide price discounts, albeit in different ways. We find concurrent lending helps underwriters build relationships, increasing the probability of receiving current and future business.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
The central role of the propensity score in observational studies for causal effects
ROSENBAUM, P. R., & RUBIN, D. B. (1983) · Biometrika · doi:10.1093/biomet/70.1.41 · Cited by 31,241
Conditional logit analysis of qualitative choice behavior
McFadden, D. L. (1972) · eScholarship (California Digital Library) · Cited by 14,203
Limited-dependent and qualitative variables in econometrics
Maddala, G. S. (1983) · Cambridge University Press eBooks · doi:10.1017/cbo9780511810176 · Cited by 13,240
Cragg, J. G., & Zarembka, P. (1975) · The Canadian Journal of Economics · doi:10.2307/134075 · Cited by 8,342
Matching as an econometric evaluation estimator: Evidence from evaluating a job training programme
Heckman, J. J., Ichimura, H., & Todd, P. E. (1997) · The Review of Economic Studies · doi:10.2307/2971733 · Cited by 5,486
Matching As An Econometric Evaluation Estimator
Heckman, J. J., Ichimura, H., & Todd, P. (1998) · Review of Economic Studies · doi:10.1111/1467-937x.00044 · Cited by 3,807
Estimating Causal Effects from Large Data Sets Using Propensity Scores
Rubin, D. B. (1997) · Annals of Internal Medicine · doi:10.7326/0003-4819-127-8_part_2-199710151-00064 · Cited by 2,877
Initial Public Offerings and Underwriter Reputation
CARTER, R., & MANASTER, S. (1990) · The Journal of Finance · doi:10.1111/j.1540-6261.1990.tb02426.x · Cited by 2,441
Some evidence on the uniqueness of bank loans
James, C. (1987) · Journal of Financial Economics · doi:10.1016/0304-405x(87)90003-1 · Cited by 1,610
Berger, A. N., Demsetz, R. S., & Strahan, P. E. (1999) · Journal of Banking & Finance · doi:10.1016/s0378-4266(98)00125-3 · Cited by 1,477
Cited by
Political Connections and the Cost of Bank Loans
HOUSTON, J. F., JIANG, L., LIN, C., & MA, Y. (2014) · Journal of Accounting Research · doi:10.1111/1475-679x.12038 · Cited by 705
Aggarwal, R., Erel, I., Stulz, R., & Williamson, R. (2009) · Review of Financial Studies · doi:10.1093/rfs/hhn107 · Cited by 523
Institutional Investors and Mutual Fund Governance: Evidence from Retail–Institutional Fund Twins
Evans, R. B., & Fahlenbrach, R. (2012) · Review of Financial Studies · doi:10.1093/rfs/hhs105 · Cited by 189
Metadata
- Authors
- DRUCKER, S., & PURI, M.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2005-11-10
- Volume
- 60
- Issue
- 6
- Pages
- 2763-2799
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2165940068
- Cited by
- 538
- References
- 47
- FWCI
- 44.87
- Type
- journal article
- Language
- en
- Open access
- green
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: On the Benefits of Concurrent Lending and Underwriting. https://app.cochat.ai/papers/10.1111/j.1540-6261.2005.00816.x
- The paper
- DRUCKER, S., & PURI, M. (2005). On the Benefits of Concurrent Lending and Underwriting. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.2005.00816.x
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.
