Construct · 1 fields · 1 citations

underwriter certification hypothesis: a standalone construct

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Corporate finance

the hypothesis that reputable underwriters credibly certify that an issue's price reflects inside information, reducing information asymmetry costs.

In corporate finance, underwriter certification hypothesis refers to the hypothesis that reputable underwriters credibly certify that an issue's price reflects inside information, reducing information asymmetry costs. This meaning comes from Booth (1986) in Journal of Financial Economics.[1]

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Nearby constructs

asymmetry4 fields · 5 citationsjingle · one word, four constructs hypothesis2 fields · 2 citationsjingle · one word, two constructs information4 fields · 5 citationsjingle · one word, four constructs

References

Booth, J. R., & Smith, R. L. (1986). Capital raising, underwriting and the certification hypothesis. Journal of Financial Economics, 15(1-2), 261-281. https://doi.org/10.1016/0304-405x(86)90057-7

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