Hull, Robert M.; Fortin, Richard - In: Journal of Small Business Finance 3 (1993) 1, pp. 1-16
This study explores the role of issuance expenses in explaining the fall in stock value for OTC stock offerings that … be accounted for by issuance expenses when using a lower bound measure of issuance expenses. This estimate contrasts with …-debt reduction purposes. The influence of issuance expenses is shown to be substantially greater when combination offerings are …