Deeply-discounted rights issues (DDRIs) remain rare on the world's largest stock markets, but the costs and benefits of such issues have attracted renewed attention in recent years as market regulators search for ways of driving down the cost of external fund raising. The relative scarcity of...

Purpose – The purpose of this paper is to examine the interest rate risk management (IRRM) practices of UK companies. In particular, the study examines five theories that have been advanced in the literature to explain why companies hedge: tax and regulatory arbitrage; under‐investment,...

A substantive literature examines the short- and long-run performance of share returns following an Initial Public Offering (IPO). However, the related issue of why companies seek to raise money through an IPO, or the factors that are important in this equity-issuing process, have attracted very...

Corporate governance as a coherent notion and independent topic of academic and practitioner interest has developed rapidly in the last ten years. In particular, most countries have seen the publication of vast numbers of regulatory reports outlining best practice in handling the issues that...