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• W2618842690 abstract "Abstract CEO turnover increases when announced stock issues are withdrawn, even after controlling for endogeneity and firm performance. However, greater underwriter certification of a stock issue is associated with lower CEO turnover. Together, these two findings suggest that the corporate governance practice of terminating CEOs for unsuccessful offerings and the resulting managerial career concerns may help explain the puzzle that managers of issuing firms show little concern for the level of underwriting fees charged: CEOs may use underwriters to help protect their CEO positions." @default.
• W2618842690 created "2017-06-05" @default.
• W2618842690 creator A5058570186 @default.
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• W2618842690 date "2018-05-01" @default.
• W2618842690 modified "2023-09-27" @default.
• W2618842690 title "Why do firms pay high underwriting fees? SEO withdrawal, underwriter certification and CEO turnover" @default.
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• W2618842690 doi "https://doi.org/10.1016/j.intfin.2017.05.009" @default.
• W2618842690 hasPublicationYear "2018" @default.
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