Do firms issue more equity when markets become more liquid?
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DOI: 10.1016/j.jfineco.2018.12.004
Abstract: This paper investigates how public equity issuance is related to stock market liquidity. Using quarterly data on IPOs and SEOs in 36 countries over the period 1995-2008, we show that equity issuance is significantly and… read more here.
Keywords: market liquidity; equity; equity issuance; market ... See more keywords