Parent Category: Article
Pre-IPO Acquirers’ Issuance Cost and Long-Run Performance: Do Their M&A Disclosures Matter?
|Title||Pre-IPO Acquirers’ Issuance Cost and Long-Run Performance: Do Their M&A Disclosures Matter? ||Author(S)||Junming Hsu (Author) |
|Abstract|| This paper investigates whether the activities and disclosures of mergers and acquisitions (M&As) preceding initial public offerings (IPOs) are associated with issuers’ (1) issuance cost and (2) long-run performance. The results show that pre-IPO acquirers have higher opportunity costs of issuance (OCI) than their matching companies (without pre-IPO M&As) but their underpricing does not differ significantly, indicating that they tend to raise more funds by issuing a greater number of shares ...||Pagination||p141–164|
|Journal Title||Journal of Business Finance & Accounting|| || |
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