Why Do Firms Conduct Seasoned Equity Offerings Shortly After IPO? Evidence from Taiwan
碩士 === 國立臺灣大學 === 商學研究所 === 95 === We investigate the reason behind the IPO firm’s decision to conduct a primary seasoned equity offering (SEO). In this paper, we follow the two-period model of blockholder incentives starting from the IPO stage developed by Harjoto and Garen (2003). Using a sample o...
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ndltd-TW-095NTU053180112015-12-11T04:04:49Z http://ndltd.ncl.edu.tw/handle/24038675848350142901 Why Do Firms Conduct Seasoned Equity Offerings Shortly After IPO? Evidence from Taiwan 探討台灣上市櫃公司掛牌後辦理現金增資的影響因素 Chun-Chieh Chen 陳俊捷 碩士 國立臺灣大學 商學研究所 95 We investigate the reason behind the IPO firm’s decision to conduct a primary seasoned equity offering (SEO). In this paper, we follow the two-period model of blockholder incentives starting from the IPO stage developed by Harjoto and Garen (2003). Using a sample of Taiwan IPO firms during 1996 to 2000, we find that IPO firms with higher anticipated opportunities of growth are more likely to conduct an SEO within four years after their IPOs and positively affect the relative size of the firm’s SEO. We also find that the firm’s risk measure decreases the likelihood of conducting an SEO and reduces the relative size of an SEO. All our empirical findings provide support of the two-period model developed by Harjoto and Garen (2003). 陳文華 2006 學位論文 ; thesis 36 en_US |
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碩士 === 國立臺灣大學 === 商學研究所 === 95 === We investigate the reason behind the IPO firm’s decision to conduct a primary seasoned equity offering (SEO). In this paper, we follow the two-period model of blockholder incentives starting from the IPO stage developed by Harjoto and Garen (2003). Using a sample of Taiwan IPO firms during 1996 to 2000, we find that IPO firms with higher anticipated opportunities of growth are more likely to conduct an SEO within four years after their IPOs and positively affect the relative size of the firm’s SEO. We also find that the firm’s risk measure decreases the likelihood of conducting an SEO and reduces the relative size of an SEO. All our empirical findings provide support of the two-period model developed by Harjoto and Garen (2003).
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author2 |
陳文華 |
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陳文華 Chun-Chieh Chen 陳俊捷 |
author |
Chun-Chieh Chen 陳俊捷 |
spellingShingle |
Chun-Chieh Chen 陳俊捷 Why Do Firms Conduct Seasoned Equity Offerings Shortly After IPO? Evidence from Taiwan |
author_sort |
Chun-Chieh Chen |
title |
Why Do Firms Conduct Seasoned Equity Offerings Shortly After IPO? Evidence from Taiwan |
title_short |
Why Do Firms Conduct Seasoned Equity Offerings Shortly After IPO? Evidence from Taiwan |
title_full |
Why Do Firms Conduct Seasoned Equity Offerings Shortly After IPO? Evidence from Taiwan |
title_fullStr |
Why Do Firms Conduct Seasoned Equity Offerings Shortly After IPO? Evidence from Taiwan |
title_full_unstemmed |
Why Do Firms Conduct Seasoned Equity Offerings Shortly After IPO? Evidence from Taiwan |
title_sort |
why do firms conduct seasoned equity offerings shortly after ipo? evidence from taiwan |
publishDate |
2006 |
url |
http://ndltd.ncl.edu.tw/handle/24038675848350142901 |
work_keys_str_mv |
AT chunchiehchen whydofirmsconductseasonedequityofferingsshortlyafteripoevidencefromtaiwan AT chénjùnjié whydofirmsconductseasonedequityofferingsshortlyafteripoevidencefromtaiwan AT chunchiehchen tàntǎotáiwānshàngshìguìgōngsīguàpáihòubànlǐxiànjīnzēngzīdeyǐngxiǎngyīnsù AT chénjùnjié tàntǎotáiwānshàngshìguìgōngsīguàpáihòubànlǐxiànjīnzēngzīdeyǐngxiǎngyīnsù |
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