Seasoned public offerings: Resolution of the "new issues puzzle"

By B. Espen Eckbo, Ronald W. Masulis, Øyvind Norli. 2000

572 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/e378e752747c180037ca19b79e5752a8ccc9b8a7

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Citations in the corpus

Operating Performance and the Method of Payment in Takeovers (2002, methodology): “In light of Fama’s (1998) “bad model” arguments and the recent work of Eckbo, Masulis, and Norli (2000), the puzzling patterns in the long-term stock returns of acquiring firms may also be attributable to factors such as leverage that are not captured in most models of the return-generating process.”
Capital Market-Driven Corporate Finance (2009, background): “Eckbo et al. (2000) interpret the firm-level results as reflecting the low risk of equity issuers.”
The Long-Term Performance of Corporate Bonds (and Stocks) Following Seasoned Equity Offerings (2002, methodology): “2 Abnormal and raw return tests in calendar-time Fama (1998) and Mitchell and Stafford (2000) argue that the EMH can be incorrectly rejected, independent of the method of estimating expected returns, with the event-time return metric.”
The New Issues Puzzle: Testing the Investment-Based Explanation (2008, unknown): “Similar to Brav, Geczy, and Gompers (2000) and Eckbo, Masulis, and Norli (2000), we include utilities in our sample.”
Can Managers Time the Market? Evidence Using Repurchase Price Data (2015, unknown): “…2002), Ikenberry, Lakonishok, and Vermaelen (1995, 2000a and b), and Peyer and Vermaelen (2009) present evidence consistent with market timing, while Eckbo, Masulis, and Norli (2000), Schultz (2003), Butler, Grullon, and Weston (2005), and Dittmar and Dittmar (2008) dispute the interpretation of…”
Do managers time the market? Evidence from open-market share repurchases (2007, unknown): “For example, Fama (1998) and Eckbo, Masulis, and Norli (2000) argue that the results in some empirical studies which focus on long-horizon returns may not be robust due to the use of incorrect or flawed methodologies.”
Pseudo Market Timing and the Long-Run Underperformance of IPOs (2003, unknown): “Eckbo et al. (2000) show that leverage is signi¢cantly reduced following seasoned o¡erings while liquidity is increased.”
A Financing-Based Misvaluation Factor and the Cross Section of Expected Returns (2010, methodology): “…for this possibility, in Section A of the Addendum, we consider other sets of benchmark factors, including the macroeconomic factors suggested by Eckbo, Masulis, and Norli (2000), the new three-factor by Chen and Zhang (2010), the Fama-French factors purged of new issue firms (e.g., Loughran…”
Myopic Marketing Management: Evidence of the Phenomenon and Its Long-Term Performance Consequences in the SEO Context (2007, unknown): “Thus, SEO risk characteristics might be postulated to differ from non-SEO firms (Eckbo et al. 2000).”
Managerial Opportunism? Evidence from Directors' and Officers' Insurance Purchases (2002, unknown): “3 Eckbo et al. (2000) dispute the interpretation that average postoffering returns are abnormal following seasoned equity offerings, and indirectly raise doubt about the proper interpretation of average post-IPO performance.”
Smart investments by smart money: Evidence from seasoned equity offerings (2004, background): “Eckbo et al. (2000) present evidence that lower stock returns following SEOs reflect lower systematic risk exposure for issuers relative to matched non-issuers.”
Seasoned Equity Offerings: What Firms Say, Do, and How the Market Reacts (2008, unknown): “Weisbach (2008). For a contrary view, see Brav et al. (2000), Eckbo et al. (2000) , and Kim and Purnanandam (2006).”
Hedge Funds as Investors of Last Resort (2009, methodology): “The third model follows Fama and French (1993) and includes a market, size, and book-to-market factor.”