The registration date of a seasoned equity offering marks the beginning of the offering process and serves to galvanize further scrutiny and information gathering about the issuer. We posit that the market reaction to this new additional information influences issuers' decisions about their...

Registrations of SEOs serve to galvanize information gathering about issuers. We posit that market reaction to new information influences issuers' decision about their final offer size. The offer size relative to the amount filed initially is a parsimonious measure which helps predict subsequent...

There is an extensive literature showing that R&D intensities and increases are positively related to firm performance, but there is little research on the valuation of R&D reductions. This paper contributes to the literature by examining the long-term performance following significant R&D...

An exclusive focus on bottom-line income misses important information about the quality of earnings. Accruals (the difference between accounting earnings and cash flow) are reliably, negatively associated with future stock returns. Earnings increases that are accompanied by high accruals,...