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| Tekijä: | Kim, W. Weisbach, M.S. |
| Otsikko: | Motivations for public equity offers: An international perspective |
| Lehti: | Journal of Financial Economics
2008 : FEB, VOL. 87:2, p. 281-307 |
| Asiasana: | investment financing |
| Vapaa asiasana: | public equity market timing |
| Kieli: | eng |
| Tiivistelmä: | Using a sample of over 17,000 initial public offerings (IPOs) and more than 13,000 seasoned equity offerings (SEOs) from 38 countries from 1990 to 2003, this paper explores the motivations for public equity offers. The uses of funds raised in both initial and seasoned offerings are estimated. Firms appear to spend incremental dollars on both R&D and capital expenditures. However, high market to book firms tend to save more cash and offer a higher fraction of secondary shares in SEOs than low market to book firms. |
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