• Part A: Traditional forms of corporate financing
• 38 min
  1. Traditional theories of capital structure: trade-off versus pecking order

  • Prof. Vidhan K. Goyal
• 31 min
  2. Venture capital 1

  • Prof. Thomas J. Chemmanur
• 36 min
  3. Venture capital 2

  • Prof. Thomas J. Chemmanur
• 32 min
  4. Venture capital 3

  • Prof. Thomas J. Chemmanur
• 19 min
  5. Security Design 1

  • Prof. Tom Noe
• 32 min
  6. Security Design 2

  • Prof. Tom Noe
• 27 min
  7. Security Design 3

  • Prof. Tom Noe
• 33 min
  8. Initial public offerings 1

  • Prof. John Cooney
• 36 min
  9. Initial public offerings 2

  • Prof. John Cooney
• 25 min
  10. Raising funds in the secondary markets a brief review of the academic research related to Seasoned Equity Offers (SEOs)

  • Prof. Ajai Singh
• Part B: Innovations in corporate financing policy
• 19 min
  11. Peer-to-Peer (P2P) lending

  • Prof. Laura Gonzalez
• 66 min
  12. Equity crowdfunding and prosperity

  • Prof. Douglas Cumming
• 42 min
  13. Islamic banking and finance

  • Prof. Philip Molyneux

Printable Handouts

PDF

Navigable Slide Index

1. Introduction
2. Additional equity capital in secondary markets
3. Seasoned equity offers (SEO)
4. Market timing/windows of opportunity
5. Investment-based explanation – financing needs
6. Could it be that both explanations are correct?
7. Two primary methods of issuing equity publicly
8. Accelerated shelf offers vs. fully-marketed offers
9. The fully-marketed SEO process
10. Offer size and offer price
11. Offer price discount
12. Primary objective of the investment banker
13. Amended proceeds hypothesis
14. Two types of firm
15. The offer date and final offer size
16. Expected offer size
17. Separate and additional indication to the market
18. Offer price discount vs. Amended proceeds
19. Amended proceeds: A new empirical measure
20. Improved SEOs - upward revision of the offer size
21. Regular SEOs
22. Mimicry
23. Why not to mimic
24. The bread and butter of investment bankers
25. Fooling clients with amended proceeds
26. Data for Chan et al.
27. Predictions of the amended proceeds hypothesis
28. Improved SEOs
29. Dollar proceeds from filing to offer
30. Stock price response
31. Regular vs. improved SEOs (table)
32. Cross-sectional analysis of offer-date returns
33. Offer-date return is related to improved degree
34. T-5 calendar-time regressions: improved SEOs
35. T-5 calendar-time regressions: regular SEOs
36. T-6 calendar-time regressions: improved SEOs
37. T-6 calendar-time regressions: regular SEOs
38. T-7 Fama-MacBeth regression results
39. Long-run stock return performance
40. Long-run performance metrics
41. Changes in operating performance & investments
42. Institutional investor demand for SEOs
43. Conclusions (1)
44. Conclusions (2)

Topics Covered

• Additional equity capital in secondary markets
• Seasoned equity offers (SEO)
• Market timing/windows of opportunity
• Investment-based financing needs
• Two primary methods of issuing equity publicly
• Accelerated shelf offers vs. fully-marketed offers
• The fully-marketed SEO process
• Offer size, offer price & offer price discount
• Primary objective of the investment banker
• Amended proceeds hypothesis
• Two types of firm
• The offer date, expected offer size and final offer size
• Separate and additional indication to the market
• Improved SEOs vs. Regular SEOs
• Mimicry (Fooling clients with amended proceeds)
• Dollar proceeds from filing to offer
• Stock price response
• Cross-sectional analysis of offer-date returns
• Calendar-time regressions: Improved & regular SEOs
• WLS regression approach
• Fama-MacBeth regression
• Long-run stock return performance & metrics
• Changes in operating performance & investments
• Institutional investor demand for SEOs

Links

Series:

• Corporate Financing

Categories:

• Finance, Accounting & Economics

Talk Citation

Publication History

• Published on October 7, 2014