Showing 1 - 2 of 2
We examine the underpricing of initial public offerings (IPOs) of equity by firms that make prior public debt offerings. We find that subsequent IPOs are associated with significantly lower underpricing. Further, the price dispersion of the preliminary filing price range is smaller, as is the...
Persistent link: https://www.econbiz.de/10005572129
Most of the recent literature on risk management and capital structure examines settings where the markets for different securities, (e.g., debt, equity, and derivative markets) are perfectly integrated. This paper presents anecdotal evidence that suggests that financial markets often are not...
Persistent link: https://www.econbiz.de/10005704312