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政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 > Item 140.119/120864

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/120864

Title:	Information Content of Offer Date Revelations: A Fresh Look at Seasoned Equity Offerings
Authors:	Chan, Konan 湛可南 Nayar, Nandkumar Singh, Ajai K. Yu, Wen
Contributors:	財管系
Date:	2018-09
Issue Date:	2018-11-09 15:05:13 (UTC+8)
Abstract:	Besides the offer price discount, investment bankers use revisions in offer size from the amount originally filed to signal the issuer`s quality to their buy-side clients. Unlike the offer price discount, offer size revision not only relates to the offer date price reaction, it also predicts post-SEO (seasoned equity offering) performance. Improved SEOs, whose offer size exceeds the amount originally registered, experience significantly positive returns during the registration period and on the offer date. More importantly, they do not underperform post-issuance. Their complement, regular SEOs, exhibit significantly negative returns during the registration period, on the offer date, and underperform their benchmark following issuance.
Relation:	FINANCIAL MANAGEMENT, 47(3), 519-552
Data Type:	article
DOI 連結:	http://dx.doi.org/10.1111/fima.12186
DOI:	10.1111/fima.12186
Appears in Collections:	[財務管理學系] 期刊論文

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