Empirical Issues in Raising Equity Capital
Elsevier, 1996 - Business & Economics - 400 pages
Hardbound. This volume covers issues of interest to corporate financiers, investment bankers, fund managers and investors involved in the process of raising long-term capital. The papers, which represent original contributions in their specific subject areas, cover a wide range of issues. These include initial public offerings, privatisation issues, seasoned issues and international equity offerings, with empirical evidence from more than eight countries in Europe, the Far East and the Americas. The volume makes a significant contribution to bridging the gap between modern finance theory and corporate financing practice. It is a vital book for postgraduate and Phd finance courses.
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EMPIRICAL ISSUES IN RAISING EQUITY CAPITAL
THE TIME SERIES BEHAVIOUR OF INITIAL RETURNS ON UK IPOs
THE UK EXPERIENCE
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abnormal returns adjusted ADRs American Depository Receipts announcement date assets asymmetric information auction average bid-ask spreads capital markets capital structure coefficient common stock companies corporate control day returns dividend dual-class firms dual-class IPOs dummy empirical equity offerings estimated evidence Financial Economics financial leverage firm's fixed-price procedures going public holding period holding period return hypothesis Ibbotson information asymmetry initial public offerings initial returns investment banks investment banks/shareholders investors IPO market IPO underpricing IPOs issue markets issuers issuing firms Journal of Financial long-run performance long-term Loughran Management market value median NASDAQ negative number of shares offer price oversubscription ownership Panel paper percent PIPOs positive post-IPO PR's privatisation proxy regression reported risk Ritter Rydqvist sample sector securities shareholders signaling significantly standard deviation Stock Exchange stock market stock price reaction sub-period Table trading days underperformance underpricing underwriters variable venture capital venture capitalists winner's curse z-stat