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The Choice between QIP and Rights Issue: Evidence from India
Pradip Banerjee,Soumya Guha Deb +1 more
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In this paper, the authors study the market reaction to qualified institutional placements (QIPs) by Indian firms and the motivations of Indian firms behind issuing shares through QIP route vis-a-vis...Abstract:
This article intends to study the market reaction to qualified institutional placements (QIPs) by Indian firms and the motivations of Indian firms behind issuing shares through QIP route vis-a-vis ...read more
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The choice of flotation methods: Evidence from Chinese seasoned equity offerings
TL;DR: Li et al. as mentioned in this paper compared three major equity flotation methods employed by listed firms in China: rights issues, public offerings, and private placements, and found that firms with high levels of information asymmetry tend to choose private placement and avoid either public offerings or rights issues.
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Theory of the firm: Managerial behavior, agency costs and ownership structure
TL;DR: In this article, the authors draw on recent progress in the theory of property rights, agency, and finance to develop a theory of ownership structure for the firm, which casts new light on and has implications for a variety of issues in the professional and popular literature.
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Corporate financing and investment decisions when firms have information that investors do not have
TL;DR: In this paper, a firm that must issue common stock to raise cash to undertake a valuable investment opportunity is considered, and an equilibrium model of the issue-invest decision is developed under these assumptions.
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Corporate Ownership Around the World
TL;DR: In this paper, the authors use data on ownership structures of large corporations in 27 wealthy economies to identify the ultimate controlling shareholders of these firms, and they find that, except in economies with very good shareholder protection, relatively few firms are widely held, in contrast to Berle and Means's image of ownership of the modern corporation.
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Using daily stock returns: The case of event studies
TL;DR: In this paper, the authors examine properties of daily stock returns and how the particular characteristics of these data affect event study methodologies and show that recognition of autocorrelation in daily excess returns and changes in their variance conditional on an event can sometimes be advantageous.
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The separation of ownership and control in east asian corporations
TL;DR: The authors examined the separation of ownership and control for 2,980 corporations in nine East Asian countries and found that voting rights frequently exceed cash-ow rights via pyramid structures and cross-holdings.
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