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- Title
NEGOTIATED VERSUS COMPETITIVE UNDERWRITINGS OF PUBLIC UTILITY BONDS: JUST ONE MORE TIME.
- Authors
Fabozzi, Frank J.; West, Richard R.
- Abstract
The article looks at negotiated underwritings versus competitive underwritings of public utility bonds. The U.S. Securities & Exchange Commission instituted a rule in 1940 called Rule U-50 which requires the competitive bidding on specific classes of utility bonds but it was suspended due to chaotic conditions in the market for those securities. The comparison of negotiated and competitive underwritings focuses mostly upon the behavior of the underwriters' spreads and the levels of their yields.
- Subjects
UNITED States; BONDS (Finance); BOND insurance; BIDDING strategies; BOND market; LETTING of contracts
- Publication
Journal of Financial & Quantitative Analysis, 1981, Vol 16, Issue 3, p323
- ISSN
0022-1090
- Publication type
Article
- DOI
10.2307/2330241