Rational financial management: Evidence from seasoned equity offerings

• المؤلفون الرئيسيون: BARCLAY, Michael, FU, Fangjian, SMITH, Clifford
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2012
• الموضوعات: Capital Structure; Seasoned Equity Offerings; Tradeoff; Pecking-order; Market-timing; Business; Finance and Financial Management
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/lkcsb_research/3224; https://ink.library.smu.edu.sg/context/lkcsb_research/article/4223/viewcontent/SSRN_id1099850.pdf

Current theories of capital structure have difficulty explaining the aspects of financing behavior we document. In contrast to the tradeoff theory, seasoned equity offers frequently move firms away from their target leverage ratios. At odds with the pecking-order theory, SEO firms typically are fina...