Ngo, Anh Duc; Varela, Oscar - In: Managerial Finance 38 (2012) September, pp. 833-859
Purpose – The purpose of this paper is to examine the impact of earnings smoothing on the underpricing of seasoned equity offerings (SEOs). It aims to investigate whether earnings smoothing can add value to firms by reducing the degree of SEO underpricing. Design/methodology/approach – The...