Using a unique institutional feature of the South Korean initial public offerings (IPO) market, in which firms can opt to list on a pre-IPO market (pre-market), we investigate the effect of pre-market trading on IPO performance. We find that firms that were involved in pre-markets are less...

We examine the determinants of and investor responses to corporate environmental, social, and governance (ESG) bond issuance in Korea. We find that ESG bond issuance is positively associated with firm size and foreign ownership stakes. We also find that firms that establish ESG committees at the...

This paper examines environmental, social, and governance (ESG) performance around seasoned equity offerings (SEOs). A firm may improve ESG performance prior to SEOs to the extent that it believes that investors will be more favorable to firms with better ESG performance (window-dressing...