Publication:
The pricing of equity offerings

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cris.virtual.author-orcid#PLACEHOLDER_PARENT_METADATA_VALUE#
cris.virtual.author-orcid#PLACEHOLDER_PARENT_METADATA_VALUE#
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cris.virtualsource.author-orcid0e8f333c-f3de-40d7-8dd8-6fa9415c4784
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dc.contributor.authorLoderer, Claudio
dc.contributor.authorSheehan, Dennis P.
dc.contributor.authorKadlec, Gregory B.
dc.date.accessioned2024-10-14T10:36:00Z
dc.date.available2024-10-14T10:36:00Z
dc.date.issued1991-03
dc.description.abstractExamination 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, especially in the NASDAQ market. In addition to seasoned offerings, we analyze 250 issues of new classes of preferred stock. These issues are not underpriced.
dc.description.numberOfPages23
dc.description.sponsorshipInstitut für Finanzmanagement (IFM)
dc.identifier.doi10.7892/boris.39536
dc.identifier.urihttps://boris-portal.unibe.ch/handle/20.500.12422/112184
dc.language.isoen
dc.publisherNorth-Holland
dc.relation.ispartofJournal of Financial Economics
dc.relation.issn0304-405X
dc.relation.organizationDCD5A442BB9DE17DE0405C82790C4DE2
dc.subject.ddc300 - Social sciences, sociology & anthropology::330 - Economics
dc.titleThe pricing of equity offerings
dc.typearticle
dspace.entity.typePublication
dspace.file.typetext
oaire.citation.endPage57
oaire.citation.issue1
oaire.citation.startPage35
oaire.citation.volume29
oairecerif.author.affiliationInstitut für Finanzmanagement (IFM)
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unibe.description.ispublishedpub
unibe.eprints.legacyId39536
unibe.journal.abbrevTitleJ FINANC ECON
unibe.refereedTRUE
unibe.subtype.articlejournal

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