Discounting and underpricing in seasoned equity offers

By Oya Altinkiliç, Robert S. Hansen. 2003

226 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/8420f419a49c5a344883b353aaef6c8acce0c42b

How researchers see this paper

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In Accounting

1. Thomas J. Chemmanur
2. Qiang Cheng
3. Yongtae Kim
4. Xia Chen
5. Robert M. Bowen
6. Simona Mola
7. Gang Hu
8. Shan He

In Finance

1. Qiang Cheng
2. Yongtae Kim
3. Xia Chen
4. Robert M. Bowen
5. Thomas J. Chemmanur
6. M. Park
7. Simona Mola
8. Shan He

In Strategy and Management

1. Thomas J. Chemmanur
2. Simona Mola
3. Gang Hu
4. Yongtae Kim
5. Shan He
6. M. Park
7. Qiang Cheng
8. Xia Chen

Citations in the corpus

• Discounting and Clustering in Seasoned Equity Offering Prices (2004, background): “Altinkiliç and Hansen (2003) similarly find that underpricing is positively related to uncertainty about firm value.”
• Short Selling Around Seasoned Equity Offerings (2010, unknown): “, Scholes (1972), Hess and Frost (1982), Korajczyk, Lucas, and McDonald (1991), Corwin (2003), Altinkilic and Hansen (2005) and Meidan (2005)].”
• Managing Underwriters and the Marketing of Seasoned Equity Offerings (2010, unknown): “…determine the SEO offer price discount are the pre-issue return volatility of the issuer’s stock and the relative offer size, measured as the number of shares offered divided by the pre-issue number of shares outstanding (Altinkiliç and Hansen (2003), Corwin (2003), and Mola and Loughran (2004)).”
• Analyst Coverage and the Cost of Raising Equity Capital: Evidence from Underpricing of Seasoned Equity Offerings (2008, background): “Altinkilic and Hansen (2003) and Corwin (2003) find that this approach is accurate for at least 98% of all previously misclassified offers.”
• Pricing of Seasoned Equity Offers and Earnings Management (2005, background): “Similar to Altınkılıç and Hansen (2002), discounting is defined as the closing price on the day prior to the offer minus the offer price, divided by the closing price on the day prior to the offer.”
• The Marketing of Seasoned Equity Offerings (2010, unknown): “11% underpricing on the offer day, which is generally consistent with the numbers reported in Altinkilic and Hansen (2003), Corwin (2003), Mola and Loughran (2004), and Chemmanur, He, and Hu (2009).”
• The Role of Institutional Investors in Seasoned Equity Offerings (2009, background): “Altinkilic and Hansen (2003) decompose the SEO discount into expected and unexpected components and examine the relation between these components and SEO stock returns. Corwin (2003) conducts a comprehensive analysis of the determinants of the SEO discount.”