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Capital Structures in an Emerging Market : A Duration Analysis of the Time Interval between IPO and SEO in China

Ni, Yang - 2011

" (SEOs) in China during the period from 1 January 2001 to 1 July 2006. Duration analysis is applied by using the … on financing decisions in China contradicts the predictions of both the trade-off theory and the pecking order theory … China under-utilize the tax shield of debt. The most surprising finding is that profitability is positively related to the …

Persistent link: https://www.econbiz.de/10013121555

Timing of Seasoned Equity Offerings : A Duration Analysis

Qian, Hong - 2014

Using a sample of 6,198 US firms that went public from 1975-2004, this paper documents that firms often return for a new round of equity issuance shortly after the preceding one. First SEOs following the IPO are more likely to be conducted at a faster speed than subsequent (follow-on) SEOs....

Persistent link: https://www.econbiz.de/10013068197

Multi-period credit default prediction with time-varying covariates

Orth, Walter - 2011 - First draft: March 17, 2011

In credit default prediction models, the need to deal with time-varying covariates often arises. For instance, in the context of corporate default prediction a typical approach is to estimate a hazard model by regressing the hazard rate on time-varying covariates like balance sheet or stock...

Persistent link: https://www.econbiz.de/10008939079

How to Get a Syndicated Loan Fast? The Role of Syndicate Composition and Organization

Godlewski, Christophe J. - 2009

We empirically investigate the organizational determinants of the speed of a loan syndication process, with a particular focus on the influence of syndicate composition and organization. Indeed, the major advantage of syndicated lending is the speed with which the required funding can be...

Persistent link: https://www.econbiz.de/10013157549

Firm-level investment spikes and aggregate investment over the Great Recession

Disney, Richard; Miller, Helen; Pope, Thomas - 2018

Firm-level investment paths are commonly characterised by periods of low or zero investment punctuated by large investment ‘spikes’. We document that such spikes are important for understanding ﬁrm and aggregate level investment in the UK. We show that annual variation in aggregate...

Persistent link: https://www.econbiz.de/10011817429

Costs of Bank Equity Offerings in Response to Strengthened Capital Regulation

Shimizu, Katsutoshi - 2015

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...

Persistent link: https://www.econbiz.de/10013028111

Costs of Bank Equity Offerings in Response to Strengthened Capital Regulation

Shimizu, Katsutoshi - 2015

Persistent link: https://www.econbiz.de/10013028112

Blockholding and Market Reactions to Equity Offerings in China

Cheung, William - 2013

We examine the impact of blockholding on shareholders' wealth in equity offerings in China. We find that investors … firms only. Collectively, the findings suggest that equity offerings in China signal the issuers' future financial …

Persistent link: https://www.econbiz.de/10013091919

Bait and Switch : how do Chinese firms use proceeds from seasoned equity offerings

Bo, Hong; Huang, Zhongnan; Sterken, Elmer - 2015

We reveal motivations of Chinese firms for issuing Seasoned Equity Offerings (SEO) by examining why firms change the use of SEO proceeds and how they use unspecified SEO proceeds. Using 533 SEOs issued by Chinese firms during 1999 - 2006, we find that firms do not use unspecified SEO proceeds on...

Persistent link: https://www.econbiz.de/10010477889

The Choice of Flotation Methods Evidence from Chinese Seasoned Equity Offerings

Gao, Xuechen; Hsu, Yuan-Teng; Wang, Xuewu (Wesley); … - 2022

employed by listed firms in China: public offering, rights offering, and private placements. The dominant flotation method …

Persistent link: https://www.econbiz.de/10013289473