In this paper, we establish the significance and effects of initial public offer (IPO) offer price ranges on subscription, initial trading, and post-IPO ownership structures. The primary market in India provides a unique setting for estimating the effect of various initial public offer (IPO)...

A change in the index selection rules of Deutsche Börse provides a unique opportunity to investigate the drivers behind the decision to a bolish dual-class shares. As of June 2002, selection is based on the market capitalization of the free-float of the more liquid share class rather than the...

Background. By decoupling economic growth from an intensive use of resources, preventing the impairment of natural capital, and enhancing resilience to system-wide shocks, Circular Economy (CE) is a powerful opportunity for economic agents willing to hedge against “sustainability” risk...

This paper examines the short-term influence of CSR-relevant news on the enterprise value in the form of respective shareholder value, which is represented by the corresponding stock price. This effect is measured using an event study applied to companies in the “Austrian Traded Index”...

This paper analyzes the role of Corporate Social Responsibility during seasoned equity offerings. On an international dataset, I identify a positive relationship between CSR performance and SEO announcement returns that is weakened, if the level of investor protection is high. At the same time,...

We investigate firms' decisions to pay elective stock dividends, known in the UK as scrip dividends. Scrip dividends give investors the choice between receiving new shares or the equivalent value as a cash dividend. UK firms paying scrip dividends are more likely to be financially constrained,...

We investigate firms' decisions to pay elective stock dividends, known in the UK as scrip dividends. Scrip dividends give investors the choice between receiving new shares or the equivalent value as a cash dividend. UK firms paying scrip dividends are more likely to be financially constrained,...