Equity financing in a Myers–Majluf framework with private benefits of control
X Wu, Z Wang - Journal of Corporate Finance, 2005 - Elsevier
This paper generalizes the Myers and Majluf (1984) model by introducing an agency cost
structure based on private benefits of control. This new model predicts that many corporate …
structure based on private benefits of control. This new model predicts that many corporate …
Understanding the positive announcement effects of private equity placements: New insights from Hong Kong data
The literature has documented positive announcement effects for privately placed seasoned
equity issues. This study shows positive announcement effects not only for private but also …
equity issues. This study shows positive announcement effects not only for private but also …
How does the relationship between multiple large shareholders affect corporate valuations? Evidence from China
M Cheng, B Lin, M Wei - Journal of Economics and Business, 2013 - Elsevier
This study analyzes how the relationship between non-controlling and controlling large
shareholders affects corporate valuations. Using data from the Chinese market, we find that …
shareholders affects corporate valuations. Using data from the Chinese market, we find that …
Seasoned equity issues and ownership concentration in a closely held market: An alignment effect test free from the unobserved firm heterogeneity problem
X Wu, Z Wang - Available at SSRN 678802, 2005 - papers.ssrn.com
Opportunities for controlling shareholders to expropriate minority shareholders come largely
from insider information. These opportunities and hence private benefits of control, largely …
from insider information. These opportunities and hence private benefits of control, largely …
An empirical study on seasoned equity choice between qualified institutional placements and rights issues in India
A Tuli, A Shukla - Decision, 2014 - Springer
This paper empirically examines the factors that determine the choice between qualified
institutional placements (QIPs) and Rights issues for raising seasoned equity capital by …
institutional placements (QIPs) and Rights issues for raising seasoned equity capital by …
Changes in Controlling Shareholders' Holdings: Do They Entail Financial Tunneling?
M Abudy, B Lauterbach - International Corporate Governance, 2015 - emerald.com
We examine changes in controlling shareholder holdings, looking for evidence of financial
tunneling (unfair wealth transfers from public investors to controlling shareholders). Our …
tunneling (unfair wealth transfers from public investors to controlling shareholders). Our …
[PDF][PDF] Seasoned equity offerings, quality signalling and private benefits of control
B Balachandran, R Faff, M Theobald… - EFA 2009 Bergen …, 2008 - academia.edu
Seasoned equity offerings (SEOs) in the UK provide valuable choices to the issuer in terms
of renounceability and control dilution. This is especially the case following the removal of …
of renounceability and control dilution. This is especially the case following the removal of …
The Choice of seasoned equity offerings methods and long term returns
B Balachandran, RW Faff, M Theobald… - EFA 2009 Bergen …, 2008 - papers.ssrn.com
Seasoned equity offerings (SEOs) in the UK provide valuable choices to the issuer in terms
of renounceability and control dilution. This is especially the case following the removal of …
of renounceability and control dilution. This is especially the case following the removal of …
Firms' Choice of Seasoned Equity Issuance Method—Taking Private or Non-private Route
A Tuli - Global Business Review, 2016 - journals.sagepub.com
The choice of an issuance method for selling subsequent equity is indeed an important
corporate financial decision. The recent popularity of private placements over traditional …
corporate financial decision. The recent popularity of private placements over traditional …