EQUITY ISSUES AND THE IMPACT OF LEAD MANAGER AFFILIATION ON BROKER MARKET SHARE AND TRADING VOLUME

Seasoned equity offerings (SEOs) are widely regarded as one of the most important capital structure events for listed companies. CMCRC researchers show brokers affiliated with SEO managers gain additional market share during SEOs as compared to unaffiliated brokers. This could be interpreted as contributing to compensation for management and underwriting services. Jimmy Liu PhD candidate,