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Keywords: Underwriting method
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Journal Articles
Self-selection bias or decision inertia? Explaining the municipal bond “competitive sale dilemma”
Available to Purchase
Journal of Public Budgeting, Accounting & Financial Management (2018) 30 (1): 86–106.
Published: 05 March 2018
... of choosing an underwriting method leading to a higher borrowing cost. A relatively recent wave of studies has tried to use the theory of certification mechanism to explain the “competitive sale dilemma.” This line of reasoning contends that issues associated with more severe information asymmetry...
