Illiquidity, Stock Return and Corporate Capital Structure: Evidence from Seasoned Equity Offering

• المؤلف الرئيسي: YU, Zhao
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2009
• الموضوعات: capital structure; illiquidity; seasoned equity offering; Finance and Financial Management; Portfolio and Security Analysis
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/etd_coll/20; https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1019&context=etd_coll
• المؤسسة: Singapore Management University

The post-issue underperformance of seasoned equity offering (SEO) is generally explained by asymmetric information and deteriorating operating performance. We complement these traditional explanations with a new parameter, the liquidity, which results from the change of capital structure due to equi...