Similar Search Results

Retail IPO Access : An Examination of Participating Issuers and IPO Performance

Gempesaw, David; Henry, Joseph J.; Pisciotta, Kevin - 2023

We conduct the first analysis of FinTech Retail Access programs for IPO share allocations. Issued largely by consumer-facing companies, these “Retail IPO” stocks underperform contemporaneous IPO stocks by an average of 17 percentage points over the first 9 months, even after adjusting for...

Persistent link: https://www.econbiz.de/10014349642

Banking Relationships and Financial Decisions of REITs

Chang, Yuanchen; Hsieh, Yi‐Ting; Seah, Kiat Ying; … - 2021

Banking relationships are key factors influencing financing decisions of real estate investment trusts (REITs) that are mandated to hold highly specific assets. Using a comprehensive data set of loan facilities by REITs across different markets, this paper empirically tests the effect of...

Persistent link: https://www.econbiz.de/10014351913

Using REIT Follow-on Equity Offerings to Pay Down Credit Line Balances : Bank Certification or Monitored Financial Flexibility?

Gatčev, Vladimir A.; Nayar, Nandkumar; Price, S. McKay; … - 2022

Using hand collected data from offering prospectuses and other corporate filings, we examine the market response to real estate investment trust (REIT) follow-on stock offerings’ stated uses of proceeds. We also track REIT banking relationships over time. Consistent with the idea of bank...

Persistent link: https://www.econbiz.de/10014236664

Interim News and the Role of Proxy Voting Advice

Alexander, Cindy R. - 2010

This paper examines the information content and consequences of third-party voting advice that arrives as news at an interim stage in corporate proxy contests. We first document significant stock returns around announcements of proxy vote recommendations. We then develop a multiequation...

Persistent link: https://www.econbiz.de/10013137747

The Client is King : Do Mutual Fund Relationships Bias Analyst Recommendations?

Firth, Michael Anthony - 2012

This article investigates whether the business relations between mutual funds and brokerage firms influence sell-side analyst recommendations. Using a unique data set that discloses brokerage firms' commission income derived from each mutual fund client as well as the share holdings of these...

Persistent link: https://www.econbiz.de/10012712365

Bank Cash Holdings and Investor Uncertainty

D'Udekem, Benoît - Centre Emile Bernheim, Solvay Brussels School of … - 2014

Cash holdings have often been presumed to help resolve the inherent uncertainty of assessing banks. Nonetheless, extant empirical evidence is inconclusive. The present paper adopts a novel approach to assessing the level of stockholder uncertainty associated with the cash holdings reported by...

Persistent link: https://www.econbiz.de/10010751984

European versus Anglo-Saxon credit view: Evidence from the eurozone sovereign debt crisis

Altdörfer, Marc; de las Salas Vega, Carlos A.; … - 2016

the assignment of sovereign credit ratings, using the Eurozone sovereign debt crisis of 2009-2012 as a natural laboratory … two more US-tied peers, assigned on average more favourable ratings to Eurozone issuers during the crisis. However, Fitch …'s better ratings for Eurozone issuers seem to be neglected by investors as they rather follow the rating actions of Moody's and …

Persistent link: https://www.econbiz.de/10011571051

European versus Anglo-Saxon credit view : evidence from the eurozone sovereign debt crisis

Altdörfer, Marc; De las Salas Vega, Carlos Andres; … - 2016

Persistent link: https://www.econbiz.de/10011570580

Crises and rating agencies: On the effect of aggregate uncertainty on rating agencies' incentives to distort ratings

Loerke, Petra; Niedermayer, Andreas - 2015

We analyze a rating agency's incentives to distort ratings in a model with a monopolistic profit maximizing rating …

Persistent link: https://www.econbiz.de/10011350845

SOVEREIGN RISK AND CDS. THE CASE OF ROMANIA

MARIOARA, Oana Mihaela - In: SEA - Practical Application of Science (2015) 7, pp. 51-56

The objective of this paper is to study the relationship between changing sovereign risk rating given by credit rating agencies for Romania and CDS of this borrower on the international capital market. For this purpose was used event study methodology type, the event is changing the qualifier...

Persistent link: https://www.econbiz.de/10011207358