search query: @indexterm PREFERENCE SHARES / total: 15
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| Author: | Bajaj, M. Mazumdar, S.C. Sarin, A. |
| Title: | The costs of issuing preferred stock |
| Journal: | Journal of Financial Research
2002 : WINTER, VOL. 25:4, p. 577-592 |
| Index terms: | Costs Preference shares USA |
| Language: | eng |
| Abstract: | Preferred stocks are commonly used in US firms to raise external capital. Yet this hybrid security's issuance costs and offer yields have not been previously examined in a systematic manner. A sample of 3042 US preferred stocks issued between 1980 and 1999 are analysed and it is found that convertible issues, which are riskier than straight issues, entail higher gross spreads and other direct expenses. |
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