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disseminate information about the SEO firm to institutional investors. Consistent with the above information dissemination role …, we show that SEOs with more central lead SEO underwriters are associated with a smaller extent of information asymmetry … networks for the relationship between SEO underwriter centrality and various SEO characteristics, which we test in our …
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The largest shareholder of an issuing firm in Hong Kong can be the underwriter for rights offers and open offers. We hypothesize that being an underwriter the largest shareholder who possesses more information is better than investment banks in certifying firm value and we find the evidence to...
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The paper reviews evidence from the USA and UK on seasoned equity offers (SEOs) and rights issues. There are two main avenues of research: first, the market reaction to announcements of SEOs, and the related questions of the price elasticity of demand for new shares and the timing of issues;...
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The authors compare the post-issue stock and operating performance of rights issue versus public offer firms using Korean data. The authors find that the stock returns of rights issue firms are less negative than those of public offering firms during the three years subsequent to the seasoned...
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