The Shelf Registration of Debt and Self Selection Bias

The Shelf Registration of Debt and Self Selection Bias

  • DAVID S. ALLEN
  • ROBERT E. LAMY
  • G. RODNEY THOMPSON

Article first published online: 30th April 2012 DOI: 10.1111/j.1540-6261.1990.tb05093.x

Abstract


Prior studies report lower issue costs for shelf registered debt and conclude that the benefits of increased underwriter competition can be realized by those firms using this registration procedure. This study re‐examines the purported superiority of issuing debt via shelf registration, and finds that the savings in issue costs displayed by earlier studies can be attributed to a self selection bias and not the method of registration.

Sign in to access the full article.

Related articles


Back Matter

Article first published online: 18th May 2016 / DOI: 10.1111/j.1540-6261.1990.tb00378.x

Read Article

Front Matter

Article first published online: 18th May 2016 / DOI: 10.1111/j.1540-6261.1990.tb00379.x

Read Article

Modeling Structural and Temporal Variation in the Market’s Valuation of Banking Firms

  • EDWARD J. KANE
  • HALUK UNAL

Article first published online: 30th April 2012 / DOI: 10.1111/j.1540-6261.1990.tb05083.x

Read Article

Patterns of Productivity in the Finance Literature: A Study of the Bibliometric Distributions

  • KEE H. CHUNG
  • RAYMOND A. K. COX

Article first published online: 30th April 2012 / DOI: 10.1111/j.1540-6261.1990.tb05095.x

Read Article

How Target Shareholders Benefit from Value‐Reducing Defensive Strategies in Takeovers

  • ELAZAR BERKOVITCH
  • NAVEEN KHANNA

Article first published online: 30th April 2012 / DOI: 10.1111/j.1540-6261.1990.tb05084.x

Read Article

Book Reviews

Article first published online: 30th April 2012 / DOI: 10.1111/j.1540-6261.1990.tb05096.x

Read Article

Are you an Author?


Please read our submission requirements and find out how to submit your paper to the Journal of Finance

Submit a paper