Chen, Hsuan-Chi; Dai, Na; Schatzberg, John D. - In: Journal of Corporate Finance 16 (2010) 1, pp. 104-119
We examine the firm's choice between an SEO and a PIPE, an innovation in follow-on equity selling mechanism seen in the late 1990s. Our primary finding indicates that the rapid rise of the PIPE market fills the capital needs of firms which may not have access to more traditional alternatives....
