In this review, I criticize the ability of popular asymmetric information-based models to
explain the magnitude of the underpricing of initial public offerings (IPOs) that is observed. I …

We test for firm‐level asset investment effects in returns by examining the cross‐sectional
relation between firm asset growth and subsequent stock returns. Asset growth rates are …

We study a transitional economy where state-controlled banks make loan decisions based
on noisy inside information on prospective borrowers, and may lend to avert unemployment …

The well-documented abnormal long-run buy-and-hold returns to firms issuing equity in
initial public offerings and seasoned equity offerings, firms bidding in mergers, and firms …

We examine the nature of information contained in insider trades prior to corporate events.
Insiders' net buying increases before open market share repurchase announcements and …

Given their actual revenue and spending, most net equity issuers and an overwhelming
majority of net debt issuers would face immediate cash depletion without external financing …

Using security issuer data from Malaysia, Indonesia, Saudi Arabia, and the United Arab
Emirates from the 2001–2013 period, this study investigates how Islamic bond (Sukuk) …

A popular view is that private equity (PE) firms tend to expropriate other stakeholders of their
portfolio companies. Bonds offered during 1992–2011 by companies after their initial public …

This paper analyzes the relationship between pre-IPO growth and the post-IPO long-run
performance for venture capital (VC)-backed firms. Our results show that the effect of pre-IPO …

We investigate the takeover strategies of high default risk acquirers and their value impact.
We find that these bidders select bigger, less profitable and unrelated targets, pursue …