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/methodology/approach - By properly modeling the time between two consecutive equity offerings using the duration analysis, the author tests … speed than subsequent (follow-on) SEOs. The duration analysis shows that first SEOs are more likely to ride the aggregate …
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One of the most prominent stylized facts in corporate finance is that equity issues tend to follow periods of high stock returns. We document that firms exhibit such timing behavior only in response to high returns that coincide with strong institutional investor demand. When not accompanied by...
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The objective of this study is to investigate the long-run performance of initial public offerings (IPO) in Germany for the period from 1977 to 1995. Of particular interest is to examine whether underpricing and the timing of subsequent seasoned equty offerings (SEO) may help to explain why some...
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