A theoretical and empirical analysis of the determination of the allocation ratio in standby underwritten rights offerings
In this study the irrelevance school of issue price is challenged and a theoretical model of optimal allocation ratio which explicitly takes into account various costs associated with rights offerings is developed. The empirical results reveal the importance of owners' subscription cost, the...
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| Format: | Others |
| Language: | en_US |
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Virginia Polytechnic Institute and State University
2019
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| Online Access: | http://hdl.handle.net/10919/87700 |