Does Financial Advisor Quality Improve Liquidity and Issuer Benefits in Segmented Markets? Evidence From the Municipal Bond Market
Journal of Public Budgeting, Accounting & Financial Management ISSN: 1096-3367 Publication date: 5 November 2018
Posted: 20 May 2020
Date Written: November 5, 2018
Abstract
Using a unique sample of about 563,000 competitively bid municipal revenue bonds with financial advisors issued during the period 1998–2012, the purpose of this paper is to examine the role and influence of financial advisor quality in the municipal bond market.
Keywords: Municipal Bonds, Auctions, Pricing
Suggested Citation: Suggested Citation
Daniels, Kenneth N. and Smith, Brent C. and Dorminey, Jack and Vijayakumar, Jayaraman, Does Financial Advisor Quality Improve Liquidity and Issuer Benefits in Segmented Markets? Evidence From the Municipal Bond Market (November 5, 2018). Journal of Public Budgeting, Accounting & Financial Management
ISSN: 1096-3367
Publication date: 5 November 2018, Available at SSRN: https://ssrn.com/abstract=3583318
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