Seasoned equity offerings and corporate financial management

• Main Authors: BARCLAY, Michael J., FU, Fangjian, SMITH, Clifford W.
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2021
• Subjects: Capital structure; Seasoned equity offerings; Financial management; Tradeoff; Pecking-order; Market-timing; Corporate Finance; Finance and Financial Management
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/6994; https://ink.library.smu.edu.sg/context/lkcsb_research/article/7993/viewcontent/Seasoned_equity_offerings_corporate_financial_management_sv.pdf
• Institution: Singapore Management University

We assume executives managing corporate financial policy consider the firm's current and target leverage, investment plans, anticipated cash flows, and consequences of alternative sequences of financing transactions, operating within efficient markets. Our analysis yields time-series and cross-...