The signaling hypothesis suggests that firms have incentives to underprice their initial public offerings (IPOs) to signal their quality to the outside investors and to issue seasoned equity (SEO) at more favorable terms. While the initial empirical evidence on the signaling hypothesis was weak,...

Die vorliegende Studie entstand, um die langfristige Renditeentwicklung polnischer Aktien nach Börseneinführungen und Kapitalerhöhungen in den Jahren 1994-2008 zu untersuchen. Ein besonderes Augenmerk richtet sich dabei auf die Erkennung und Analyse der performancerelevanten...

Hard-to-value stocks provide opportunities for managers to exploit their informational advantage through trading on their firms' and their own personal accounts. In contrast to the prediction that such transactions reflect private information about future events, they are contrarian and heavily...