This paper finds that frequent bond issuers get significantly better pricing than infrequent issuers, with yield spread discounts of up to 117 basispoints. We document firms' bond issue frequencies for windows from one week to six years before the current issue and relate them to yield spreads....

This paper documents the 73 billion in European bond tender offers from 1996 to 2005. European tender offers appear to be much larger than US offers and are seldom motivated by distress relief. Unlike prior research on bond tender offers, we investigate wealth effects to both shareholders and...

Going public often creates an agency conflict between the owner-manager and minority shareholders. This problem is especially severe in countries with poor legal investor protection, such as France. We examine the controlling position of owner-managers in French IPO firms. We find that investors...