Using a large sample of bank seasoned equity offerings (SEO) from 2002 to 2017, we first documented detailed descriptive statistics, and showed that nonperforming assets ratio, our primary measure of bank asset quality, reached the highest value immediately after the 2008 economic crisis, which...

This article examines the valuation effects of new equity issues by Japanese banks through private placement. Although past studies have shown a positive market response to private placement, our results indicate that abnormal returns are, on average, positive but statistically insignificant....