haku: @author Loderer, C. F. / yhteensä: 3
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| Tekijä: | Loderer, C. F. Sheehan, D. P. Kadlec, G. B. |
| Otsikko: | The pricing of equity offerings |
| Lehti: | Journal of Financial Economics
1991 : MAR, VOL. 29:1, p.35-37 |
| Asiasana: | PRICING EQUITY CAPITAL SEASONAL FLUCTUATION STOCK MARKETS |
| Kieli: | eng |
| Tiivistelmä: | Examination of 1.600 seasoned equity offerings reveals little evidence that underwriters systematically set offer prices below the market price on the major exchanges, though they may do so for NASDAQ issues. Quick round-trip transactions in seasoned offerings are not profitable, but subscribing to an offering and holding the stock for 30 days seems to be very profitable, specially in the NASDAQ market. In addition to seasoned offerings, 250 issues of new classes of preferred stock are analyzed. These issues are not underpriced. |
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