Debt

Working Paper

Underwriter Competition and Bargaining Power in the Corporate Bond Market

We develop a new measure of underwriter bargaining power and a novel empirical approach, based on underwriters’ comparative ability to place bonds. When an issuer has few “outside options” to take her bond to the market, the underwriter enjoys a...Read more

Ekaterina Neretina
Luc Renneboog
22 January 2018

Pages