Security Offerings*
B. Espen Eckbob.espen.eckbo@dartmouth.edu Tuck School of Business, Dartmouth College, Hanover, NH 03755, USA
Ronald W. Masulisronald.masulis@owen.vanderbilt.edu Owen Graduate School of Management, Vanderbilt University, 401 21st Avenue South, Nashville, TN 37203, USA
Øyvind Norlioyvind.norli@bi.no Norwegian School of Management BI, Nydalsveien 37, N-0442 Oslo, Norway
Abstract
This essay surveys the extant literature and adds to the empirical evidence on issuance activity, flotation costs, and valuation effects of security offerings. We focus primarily on public offerings of equity for cash, although we also review and present new evidence on debt offerings and private placements. The essay has four major parts: ...
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