Several recent papers present models to explain the probability and timing of seasoned equity offerings. Using a unique database of Australian new economy companies, we find no single model is adequate. The variables that are important in determining the probability of an SEO provide only...

We examine the factors that explain the underwriting decision and underwriting fees for a sample of Australian Initial Public Offerings (IPOs), spanning the period 1999-2016. This includes young and often unprofitable IPOs that list as Commitments Test Entities (CTEs). We find: (i) CTE IPOs are...