Showing 1 - 10 of 14,595
Persistent link: https://www.econbiz.de/10012171442
signal their quality to the outside investors and to issue seasoned equity (SEO) at more favorable terms. While the initial … IPOs are more likely (i) to issue seasoned equity, (ii) to issue a larger portion of equity at the SEO, and (iii) to make … the SEO sooner after the IPO, all of which are consistent with the signaling hypothesis. This evidence suggests that the …
Persistent link: https://www.econbiz.de/10009775653
Hard-to-value stocks provide opportunities for managers to exploit their informational advantage through trading on their firms' and their own personal accounts. In contrast to the prediction that such transactions reflect private information about future events, they are contrarian and heavily...
Persistent link: https://www.econbiz.de/10012816430
Persistent link: https://www.econbiz.de/10011576922
Persistent link: https://www.econbiz.de/10013444451
The paper proposes a novel direction to rationalize and quantify investors' flipping behavior and its effect on underpricing in IPOs through the use of a structural approach mode. The outcome is a proxy value that replicates investors' flipping behavior. When tested empirically, the model...
Persistent link: https://www.econbiz.de/10010258983
Persistent link: https://www.econbiz.de/10003784056
Persistent link: https://www.econbiz.de/10003545613
We reveal motivations of Chinese firms for issuing Seasoned Equity Offerings (SEO) by examining why firms change the … use of SEO proceeds and how they use unspecified SEO proceeds. Using 533 SEOs issued by Chinese firms during 1999 - 2006 …, we find that firms do not use unspecified SEO proceeds on capital investment regardless of the nature of controlling …
Persistent link: https://www.econbiz.de/10010477889
Persistent link: https://www.econbiz.de/10009272805