THE PRICING OF EQUITY OFFERINGS

被引：55

作者：

LODERER, CF

SHEEHAN, DP

KADLEC, GB

机构：

[1] PURDUE UNIV,W LAFAYETTE,IN 47907

[2] UNIV CHICAGO,GRAD SCH BUSINESS,CHICAGO,IL 60637

来源：

JOURNAL OF FINANCIAL ECONOMICS | 1991年 / 29卷 / 01期

关键词：

D O I：

10.1016/0304-405X(91)90012-9

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Examination 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. © 1991.

引用

收藏

页码：35 / 57

页数：23

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