Seasoned Equity Offerings, Market Timing, and the Corporate Lifecycle

By H. DeAngelo, L. DeAngelo, René M. Stulz. 2010

581 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/bd11e3a207b76305110c62ea2212f4063f0bcb40

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

In Finance

In Strategy and Management

Citations in the corpus

Market Timing, Investment, and Risk Management (2012, unknown): “Such behavior is consistent with the findings in Baker and Wurgler (2002), DeAngelo, DeAngelo, and Stulz (2010), Fama and French (2005), and Huang and Ritter (2009).”
Debt Financing and Financial Flexibility Evidence from Proactive Leverage Increases (2012, unknown): “Nonetheless, our finding that the sample firms often increase equity payouts when they could have more rapidly adjusted towards their target leverage ratio implies a more complicated rebalancing process than that predicted in DeAngelo et al. (2010).”
Are Financial Constraints Priced? Evidence from Textual Analysis (2018, unknown): “This result makes intuitive sense inasmuch as equity issuances are largely rare events (DeAngelo et al., 2010).”
Do Corporate Policies Follow a Life-Cycle? (2016, unknown): “found in the literature to influence firms’ corporate policies (Fazzari et al. (1988), Leary and Roberts (2005), Almeida et al.”
Firm Life Cycle, Corporate Risk Taking, and Investor Sentiment (2017, unknown): “DeAngelo et al. (2010) demonstrate that the corporate life cycle has a significant influence on the probability that a firm will engage in secondary equity offerings.”
Corporate Life Cycle and Cost of Equity Capital (2015, background): “Recent research in financial economics and accounting (DeAngelo et al., 2006, 2010; Dickinson, 2011) also recognizes that life cycle stages have important implications for understanding the financial performance of firms.”
Quantifying Managerial Ability: A New Measure and Validity Tests (2012, methodology): “12 been listed as a proxy for a firm’s life cycle stage (DeAngelo et al. 2010).”
Collateral, Taxes, and Leverage (2016, unknown): “However, given that the firm in our model can accumulate equity via capital 11 and cash saving, and given that firm-initiated equity issuances are both tiny and rare in the data 12 (DeAngelo, DeAngelo, and Stulz 2010; McKeon 2013), we view this drawback of our model as 13 minor.”
Mutual Fund Trading Pressure: Firm‐Level Stock Price Impact and Timing of SEOs (2012, background): “…ratio (BTM) in three samples, consistent with firms issuing equity after they have experienced high returns (e.g., Asquith and Mullins (1986), Loughran and Ritter (1995)) or when their market values are high relative to book values (e.g., Jenter (2005), DeAngelo, DeAngelo, and Stulz (2010)).”
Institutional Determinants of Capital Structure Adjustment Speeds (2012, background): “…investment opportunities could affect capital structure revisions (Brennan and Schwartz, 1984; Berk, Green, and Naik, 1999; Titman and Tsyplakov, 2007; Hennessy and Whited, 2005; Strebulaev, 2007; and DeAngelo, DeAngelo, and Stulz, 2010), but the more limited partial adjustment specification Eq.”