Three essays on the long-run performance of firms issuing seasoned equity offering. Does liquidity risk explain the underperformance following seasoned equity offerings? In the first essay, I examine whether firms that issue seasoned equity experience stock liquidity gains after the offering and explore the role of liquidity risk in explaining their long-run performance. Long-run returns following seasoned equity offerings: market timing or discount rate effect? In the second essay, I build on conditional latent information models to test the market timing explanation for the long-run performance following seasoned equity offerings (SEOs). Propensity score matching and long-run performance following seasoned equity offerings Li and Zhao (2006) and Cheng (2003) report that propensity score matching eliminates the abnormal performance of firms issuing seasoned equity.
| Identifer | oai:union.ndltd.org:bl.uk/oai:ethos.bl.uk:494298 |
| Date | January 2008 |
| Creators | Bilinski, Pawel |
| Publisher | University of Manchester |
| Source Sets | Ethos UK |
| Detected Language | English |
| Type | Electronic Thesis or Dissertation |
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