Do firms issue more equity when markets become more liquid?
Using quarterly data on initial public offerings (IPOs)and seasoned equity offerings (SEOs)for 37 countries from 1995 to 2014, we show that changes in equity issuance are positively related to lagged changes in aggregate local stock market liquidity. This relation is as economically significant as t...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier B.V.
2019
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| Subjects: | |
| Online Access: | View Fulltext in Publisher |