Huang, Rongbing; Zhang, Donghang - In: Journal of Financial and Quantitative Analysis 46 (2011) 01, pp. 141-170
Using a sample of 2,281 seasoned equity offerings (SEOs) from 1995 to 2004, we show that the marketing of securities is important to issuers. The number of managing underwriters for an SEO is negatively related to the offer price discount, especially when the relative offer size is large and the...