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Economics 330 Money and Banking Lecture 8 and 9 - page 16 / 23

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Why Do Conflicts of Interest Arise?

Underwriting and Research in Investment Banking

Information produced by researching companies is used to underwrite the securities. The bank is attempting to simultaneously serve two client groups whose information needs differ.

Spinning occurs when an investment bank allocates hot, but underpriced, IPOs to executives of other companies in return for their companies’ future business

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