Overinvestment and the Operating Performance of SEO Firms
Prior studies have documented that firms' operating performance deteriorates following seasoned equity offerings (SEOs). This paper proposes and empirically tests the hypothesis that the poor performance is caused by managers' overinvestment. I show that, subsequent to the offering, SEO fi...
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2010
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/3033 https://ink.library.smu.edu.sg/context/lkcsb_research/article/4032/viewcontent/FuFJ2010Overinvestment.pdf |
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| Institution: | Singapore Management University |
| Language: | English |