Seasoned equity offers and rights issues: a review of the evidence
نویسندگان
چکیده
منابع مشابه
The Impact of Cost of Equity on Seasoned Equity Offerings
This paper provides an empirical link between the expected cost of equity and firms’ Seasoned Equity Offerings activities, using a novel measure of forward-looking cost of equity. There is a negative impact of expected cost equity on SEO likelihood and amount of proceeds, exists on both market and firm level. Empirical evidence suggests that the negative SEO announcement effect and post-SEO lon...
متن کاملRational Financial Management: Evidence from Seasoned Equity Offerings
Current theories of capital structure have difficulty explaining the aspects of financing behavior we document. In contrast to the tradeoff theory, seasoned equity offers frequently move firms away from their target leverage ratios. At odds with the pecking-order theory, SEO firms typically are financially healthy companies with low leverage, unused debt capacity and substantial cash balances. ...
متن کاملthe investigation of the relationship between type a and type b personalities and quality of translation
چکیده ندارد.
Uwepricing of Seasoned Issues
In this paper we provide a model of the underwritten offerings of new shares of seasoned securities. Our purpose is to explain why the offering price chosen by the underwriter is lower than the market price of the firm's shares. Our model recognizes the interdependence between the markets surrounding the announcement and sale of the new issue and recognizes as well the effect which asymmetric i...
متن کاملValuation Effects of Seasoned Global Equity Offerings
This paper examines the shareholder wealth effects associated with global equity offerings made by foreign firms after their initial cross listing in the United States. We document that the market reaction to seasoned global equity offerings is economically and statistically insignificant. However, it is 1.5 percent larger than the market reaction to offerings made on local exchanges only. In a...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: The European Journal of Finance
سال: 1998
ISSN: 1351-847X,1466-4364
DOI: 10.1080/13518479800000002