Relationships help for IPO performance

Investors prefer initial public offerings (IPOs) managed by relationship banks than similar ones managed by outside banks, according to research by the Chicago Federal Reserve.

The research found that the performance of IPOs managed by relationship banks is similar to that of IPO managed by independent institutions.

Potential conflicts of interest are avoided by relationship banks by underwriting their best clients' IPOs, according to the paper.

To read the paper, click here

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