This paper studies bank new equity offerings in response to recently strengthened Basel capital regulation. Our empirical analyses investigate the determinants of issuing new equity and estimate its costs in sample selection model. The key finding is that weak capital base is one of the key...

This paper provides an empirical link between the expected cost of equity and firms' Seasoned Equity Offerings activities, using a novel measure of forward-looking cost of equity. There is a negative impact of expected cost equity on SEO likelihood and amount of proceeds, exists on both market...

This paper investigates the determinants of new equity offerings and estimates its costs in sample selection model. The main finding is that a weak capital base is one of the key driving forces of the new issuance around the recently strengthened Basel regulations, although banks were not...

This paper investigates the determinants of new equity offerings and estimates its costs in sample selection model. The main finding is that a weak capital base is one of the key driving forces of the new issuance around the recently strengthened Basel regulations, although banks were not...

We analyze the optimality of allowing disclosures of different types of information before equity offerings and of alternative rules for private securities litigation, where courts may penalize unduly optimistic disclosures ex post. In our model, firm insiders, with private information about...

Dieser Beitrag untersucht die Wirkungen der Zinsbereinigung des Eigenkapitals auf das zu erwartende Steueraufkommen und auf den internationalen Steuerwettbewerb. Ausgangspunkt hierfür ist eine modelltheoreti-sche Untersuchung des Zusammenhanges zwischen Kapitalmarktrenditen und...

In this study, we examine international differences in firms' cost of equity capital around the world. Specifically, we investigate whether the effectiveness of labor protection regulations is systematically related to firms' cost of equity capital and how the presence of controlling...

Exploiting the staggered adoption of anti-recharacterization laws across various U.S. states as quasi-exogenous shocks to secured lenders' ability to repossess assets in bankruptcy, we find that the strengthening of creditor rights is associated with a significant decrease in the cost of equity...

Business sustainability has emerged as the theme of the 21st century. We examine whether and how different components of economic sustainability disclosure (ECON), as well as environmental, social, and governance (ESG) dimensions of sustainability performance affect cost of equity, individually...