Using hedge funds' holdings of IPO stocks, we find that stocks with abnormally high hedge fund holdings, based on stock and deal characteristics, yield abnormal returns. Moreover, hedge funds are able to sell IPO stocks in a timely fashion before long-run underperforming periods start,...

This thesis explores two issues regarding corporate equity issuance. The first chapter studies the timing of seasoned equity offerings (SEOs) at the firm level. Descriptive statistics formulated using US data from 1975 to 2004 show that when firms return to the equity market, they tend to do so...

Purpose - Using a sample of 6,198 US firms that went public from 1975 to 2004, the purpose of this paper is to examine when these firms come back to the equity market and investigate the determinants of the timing decision. Design/methodology/approach - By properly modeling the time between two...

We investigate the internal consistency of a recently developed mathematical thermodynamic structure across scales, between a continuous stochastic nonlinear dynamical system, i.e., a diffusion process with Langevin and Fokker–Planck equations, and its emergent discrete, inter-attractoral...

Purpose – Using a sample of 6,198 US firms that went public from 1975 to 2004, the purpose of this paper is to examine when these firms come back to the equity market and investigate the determinants of the timing decision. Design/methodology/approach – By properly modeling the time between...