We examine whether corporate social responsibility (CSR) creates value for seasoned equity issuers. Using a sample of SEOs made by U.S. companies between 2004 and 2013, we find that stock price reactions are less negative for SEO announcements by firms with better CSR performance. Our event...

Traditional SEOs elicit short selling from traders trying to increase offering discounts. Such short selling is more difficult for shelf offerings, as the time between their announcement and issuance tends to be shorter. We predict and find that firms with higher short-selling potential (SSP)...

Stock returns around security offering announcements are conditional on firms' self-selection into a particular security type. We use a switching regression methodology on a data set of U.S. straight debt, convertible debt, and seasoned equity offerings to estimate counterfactual announcement...

While convertible offerings announced between 1984 and 1999 induce average abnormal stock returns of −1.69%, convertible announcement effects over the period 2000 to 2008 are more than twice as negative (−4.59%). We hypothesize that this evolution is attributable to a shift in the...