Clarke, Jonathan; Dunbar, Craig; Kahle, Kathleen M. - In: Journal of Financial and Quantitative Analysis 36 (2001) 04, pp. 415-430
This paper provides evidence on managerial motives for raising equity by examining long-run performance and insider trading around canceled and completed seasoned equity offerings (SEOs). Insider selling increases prior to competed and canceled SEOs, but declines afferward only for canceled...