| Article ID: | iaor201522791 |
| Volume: | 7 |
| Issue: | 4 |
| Start Page Number: | 323 |
| End Page Number: | 328 |
| Publication Date: | Dec 1984 |
| Journal: | Journal of Financial Research |
| Authors: | Marr M Wayne, Thompson G Rodney |
| Keywords: | investment |
This paper presents a model that explains variation in underwriting spreads among primary issues of investment quality bonds and assesses the impact that offering yields have on underwriting spreads. The results indicate that issues having higher (lower) offering yields pay lower (higher) underwriting spreads.