Autore, Don M.; Bray, David E.; Peterson, David R. - In: Journal of Corporate Finance 15 (2009) 3, pp. 358-367
We investigate the relation between seasoned equity issuers' stated intended use of proceeds and their subsequent long-run stock and operating performance. Stated intended uses of proceeds are: investment, recapitalization, and general corporate purposes. We find that issuers stating...