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What is Creditor Conflict and Bond IPO Underpricing about?

This paper investigates the relationship between creditor conflicts and bond IPO underpricing, finding that such conflicts positively correlate with underpricing as compensation for initial bond investors. Four proxies for the conflict between loan holders and bondholders were constructed, and empirical tests confirmed that these proxies are significantly related to increased bond IPO underpricing. The study contributes to the understanding of bond pricing by highlighting the impact of existing debt structu

Author

ahmed

Language

EN