This paper investigates whether IPO signals reveal proprietary information about the prospects of an issuing firm's underlying industry. By analyzing a sample of European property company (EPC) IPOs from 1997 to 2007, we take advantage of a heterogeneous set of industry performance measures,...

The financial crisis that started in 2008 has generated significant losses for European banks, forcing them to undertake a series of seasoned equity offerings (SEOs) to reinforce their balance sheets in order to comply with regulatory capital requirements. As a results, they have produced...

Market multiples are a common tool in the financial community for asset and business valuations. In this article, we aim to analyse the accuracy and the underlying drivers behind valuation multiples as tell as what explains their relative and absolute level. For this we use a European data...