메뉴 건너뛰기




Volumn 56, Issue 2, 2000, Pages 251-291

Seasoned public offerings: Resolution of the `new issues puzzle'

Author keywords

Equity issuer; Factor risk; G12; G14; G32; Long run performance; New issues puzzle; Seasoned public offerings

Indexed keywords


EID: 0034179271     PISSN: 0304405X     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0304-405X(00)00041-6     Document Type: Article
Times cited : (286)

References (32)
  • 1
    • 0031097135 scopus 로고    scopus 로고
    • Detecting long-run abnormal stock returns: The empirical power and specification of test statistics
    • Barber B.M., Lyon J.D. Detecting long-run abnormal stock returns: the empirical power and specification of test statistics. Journal of Financial Economics. 43:1997;341-372.
    • (1997) Journal of Financial Economics , vol.43 , pp. 341-372
    • Barber, B.M.1    Lyon, J.D.2
  • 2
  • 3
    • 0000069353 scopus 로고    scopus 로고
    • Alternative factor specifications, security characteristics, and the cross-section of expected stock returns
    • Brennan M.J., Chordia T., Subrahmanyam A. Alternative factor specifications, security characteristics, and the cross-section of expected stock returns. Journal of Financial Economics. 49:1998;345-373.
    • (1998) Journal of Financial Economics , vol.49 , pp. 345-373
    • Brennan, M.J.1    Chordia, T.2    Subrahmanyam, A.3
  • 4
    • 0030191751 scopus 로고    scopus 로고
    • Market microstructure and asset pricing: On the compensation for illiquidity in stock returns
    • Brennan M.J., Subrahmanyam A. Market microstructure and asset pricing: on the compensation for illiquidity in stock returns. Journal of Financial Economics. 41:1996;341-364.
    • (1996) Journal of Financial Economics , vol.41 , pp. 341-364
    • Brennan, M.J.1    Subrahmanyam, A.2
  • 5
    • 0000915182 scopus 로고
    • Funds, factors and diversification in arbitrage pricing models
    • Chamberlain G. Funds, factors and diversification in arbitrage pricing models. Econometrica. 51:1988;1305-1324.
    • (1988) Econometrica , vol.51 , pp. 1305-1324
    • Chamberlain, G.1
  • 6
    • 33646972178 scopus 로고
    • Risk and return in an equilibrium apt: Application of a new methodology
    • Connor G., Korajczyk R.A. Risk and return in an equilibrium apt: application of a new methodology. Journal of Financial Economics. 21:1988;255-289.
    • (1988) Journal of Financial Economics , vol.21 , pp. 255-289
    • Connor, G.1    Korajczyk, R.A.2
  • 7
    • 77957040939 scopus 로고
    • The arbitrage pricing theory and multifactor models of asset returns.
    • In: Jarrow, R.A., Ziemba, V.M.W.T. (Eds.) North-Holland, Amsterdam (Chapter 4).
    • Connor, G., Korajczyk, R.A., 1995. The arbitrage pricing theory and multifactor models of asset returns. In: Jarrow, R.A., Ziemba, V.M.W.T. (Eds.), Finance, Handbooks in Operation Research and Management Science, Vol. 9, North-Holland, Amsterdam, pp. 87-144, (Chapter 4).
    • (1995) Finance, Handbooks in Operation Research and Management Science , vol.9 , pp. 87-144
    • Connor, G.1    Korajczyk, R.A.2
  • 9
    • 0000755878 scopus 로고
    • Valuation effects of corporate debt offerings
    • Eckbo B.E. Valuation effects of corporate debt offerings. Journal of Financial Economics. 15:1986;119-151.
    • (1986) Journal of Financial Economics , vol.15 , pp. 119-151
    • Eckbo, B.E.1
  • 11
    • 77957043861 scopus 로고
    • Seasoned equity offerings: a survey.
    • In: Jarrow, R.A., Ziemba, V.M.W.T. (Eds.) North-Holland, Amsterdam (Chapter 31).
    • Eckbo, B.E., Masulis, R.W., 1995. Seasoned equity offerings: a survey. In: Jarrow, R.A., Ziemba, V.M.W.T. (Eds.), Finance, Handbooks in Operation Research and Management Science, Vol. 9, North-Holland, Amsterdam, pp. 1017-1072, (Chapter 31).
    • (1995) Finance, Handbooks in Operation Research and Management Science , vol.9 , pp. 1017-1072
    • Eckbo, B.E.1    Masulis, R.W.2
  • 13
    • 0039758371 scopus 로고    scopus 로고
    • The conditional performance of insider trades
    • Eckbo B.E., Smith D.C. The conditional performance of insider trades. Journal of Finance. 53:1998;467-498.
    • (1998) Journal of Finance , vol.53 , pp. 467-498
    • Eckbo, B.E.1    Smith, D.C.2
  • 14
    • 84993912194 scopus 로고
    • Expected returns, time-varying risk, and risk premia
    • Evans M.D.D. Expected returns, time-varying risk, and risk premia. Journal of Finance. 49:1994;655-679.
    • (1994) Journal of Finance , vol.49 , pp. 655-679
    • Evans, M.D.D.1
  • 15
    • 38549147867 scopus 로고
    • Common risk factors in the returns on stocks and bonds
    • Fama E.F., French K.R. Common risk factors in the returns on stocks and bonds. Journal of Financial Economics. 43:1993;3-56.
    • (1993) Journal of Financial Economics , vol.43 , pp. 3-56
    • Fama, E.F.1    French, K.R.2
  • 16
    • 77957094044 scopus 로고
    • Theory and empirical testing of asset pricing models.
    • In: Jarrow, R.A., Ziemba, V.M.W.T. (Eds.) North-Holland, Amsterdam (Chapter 31).
    • Ferson, W.E., 1995. Theory and empirical testing of asset pricing models. In: Jarrow, R.A., Ziemba, V.M.W.T. (Eds.), Finance, Handbooks in Operation Research and Management Science, Vol. 9, North-Holland, Amsterdam, pp. 145-200, (Chapter 31).
    • (1995) Finance, Handbooks in Operation Research and Management Science , vol.9 , pp. 145-200
    • Ferson, W.E.1
  • 18
    • 0010802816 scopus 로고
    • Do arbitrage pricing models explain the predictability of stock returns?
    • Ferson W.E., Korajczyk R.A. Do arbitrage pricing models explain the predictability of stock returns? Journal of Business. 68:1995;309-349.
    • (1995) Journal of Business , vol.68 , pp. 309-349
    • Ferson, W.E.1    Korajczyk, R.A.2
  • 19
    • 0039056070 scopus 로고    scopus 로고
    • Measuring fund strategy and performance in changing economic conditions
    • Ferson W.E., Schadt R.W. Measuring fund strategy and performance in changing economic conditions. Journal of Finance. 51:1996;425-461.
    • (1996) Journal of Finance , vol.51 , pp. 425-461
    • Ferson, W.E.1    Schadt, R.W.2
  • 21
    • 0000486548 scopus 로고
    • The performance of mutual funds in the period 1945-1964
    • Jensen M.C. The performance of mutual funds in the period 1945-1964. Journal of Finance. 23:1968;389-416.
    • (1968) Journal of Finance , vol.23 , pp. 389-416
    • Jensen, M.C.1
  • 23
    • 0000288739 scopus 로고
    • The empirical foundations of the arbitrage pricing theory
    • Lehmann B.N., Modest D.M. The empirical foundations of the arbitrage pricing theory. Journal of Financial Economics. 21:1988;213-254.
    • (1988) Journal of Financial Economics , vol.21 , pp. 213-254
    • Lehmann, B.N.1    Modest, D.M.2
  • 25
  • 26
    • 0009885154 scopus 로고    scopus 로고
    • Improved methods for tests of long-run abnormal stock returns
    • Lyon J.D., Barber B.M., Tsai C.-L. Improved methods for tests of long-run abnormal stock returns. Journal of Finance. 54:1999;165-201.
    • (1999) Journal of Finance , vol.54 , pp. 165-201
    • Lyon, J.D.1    Barber, B.M.2    Tsai, C.-L.3
  • 29
    • 49549135545 scopus 로고
    • The arbitrage theory of capital asset pricing
    • Ross S.A. The arbitrage theory of capital asset pricing. Journal of Economic Theory. 13:1976;341-360.
    • (1976) Journal of Economic Theory , vol.13 , pp. 341-360
    • Ross, S.A.1
  • 30
    • 58149364936 scopus 로고
    • Underperformance in long-run stock returns following seasoned equity offerings
    • Spiess D.K., Affleck-Graves J. Underperformance in long-run stock returns following seasoned equity offerings. Journal of Financial Economics. 38:1995;243-267.
    • (1995) Journal of Financial Economics , vol.38 , pp. 243-267
    • Spiess, D.K.1    Affleck-Graves, J.2
  • 31
    • 0001774993 scopus 로고    scopus 로고
    • The long-run performance of stock returns following debt offerings
    • Spiess D.K., Affleck-Graves J. The long-run performance of stock returns following debt offerings. Journal of Financial Economics. 54:1999;45-73.
    • (1999) Journal of Financial Economics , vol.54 , pp. 45-73
    • Spiess, D.K.1    Affleck-Graves, J.2
  • 32
    • 0000095552 scopus 로고
    • A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroscedasticity
    • White H. A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroscedasticity. Econometrica. 48:1980;817-838.
    • (1980) Econometrica , vol.48 , pp. 817-838
    • White, H.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.