The results show that the relationship between investment bank's reputation and the firm’s quality has been distorted; the sponsor system has not led to investment bank reputation mechanism to function effectively.
实证结果表明,投资银行声誉与IPO企业质量之间的正相关关系被扭曲,保荐制的实施并未促使投资银行声誉机制有效发挥作用。
参考来源 - 保荐制下投资银行声誉与IPO企业质量关系研究—《改革与战略》—2010年第8期—龙源期刊网·2,447,543篇论文数据，部分数据来源于NoteExpress
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