Use this URL to cite or link to this record in EThOS: http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.494298
Title: Three essays on the long-run performance of films issuing seasoned equity offerings
Author: Bilinski, Pawel
Awarding Body: The University of Manchester
Current Institution: University of Manchester
Date of Award: 2008
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Abstract:
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.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID: uk.bl.ethos.494298  DOI: Not available
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