Effective capital decisions not only increase the operational efficiency of businesses but also is strategic to bring the enterprise's competitive advantages to the market. Using an appropriate debt ratio helps businesses to strike a balance between internal and external resources to compete...

This paper examines how the release of industry rivals' earnings news during the IPO book-building period affects a firm's process of going public. The aggregate effect of rivals' earnings news is measured by a signal-to-noise ratio. Higher signal-to-noise ratios indicate better rivals' earnings...