Seasoned Equity Offerings and the Cost of Market Timing

Abstract

A robust finding in the literature is that seasoned equity offerings (SEOs) are followed by negative long-run abnormal returns, which can be seen as evidence of market timing. In this paper I document the cost of market timing, based on the idea that investors view companies with the most negative abnormal returns in the year following a SEO, as most likely… (More)

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Cite this paper

@inproceedings{Duca2010SeasonedEO, title={Seasoned Equity Offerings and the Cost of Market Timing}, author={Eric Duca}, year={2010} }