Why Do Public Firms Issue Private and Public Securities?

Topics:
Commercial Banking
Tags:
Security
Source:
National Bureau of Economic Research

FREE Registration is required

Vendor Registration: $ Paid Download

Overview: This paper examines a comprehensive set of private and public security issuance decisions by publicly traded companies. It studies private and public issues of debt, convertibles and common equity securities - a total of 6 different security-market choices. The market for public firms issuing private securities is large. The findings show that asymmetric information impacts security choice in a particular pattern: Conditional on issuing in the public market we find a pecking order of security issuance holds, firms with higher measures of asymmetric information are less likely to issue equity.

(Is this item miscategorized? Does it need more tags? Let us know.)

Format: PDF | Size: 824KB | Date: Apr 2005 | Pages: 55

People who downloaded this item also downloaded

White Paper CEO Compensations and Optimal Structure of Debt: Under Moral Hazard and Asymmetric Information
White Paper Why Do Public Firms Issue Private and Public Equity, Convertibles and Debt?
Presentation Mission And Vision
Presentation Dividend Policy:Does It Matter?
Presentation SWOT: The Analysis Of Strengths, Weaknesses, Opportunities And Threats

Top results from Commercial Banking

White Paper Undressing In Public: Harnessing The Power Of Web 2.0 To Rebuild Trust In Banking
White Paper Do Banks Strategically Time Public Bond Issuance Because of Accompanying Disclosure, Due Diligence, and Investor Scrutiny?
White Paper Nationwide Branching and its Impact on Market Structure, Quality and Bank Performance
White Paper Does Bank Lending Affect Output? Evidence from the U.S. States
White Paper Market Structure and Quality: An Application to the Banking Industry

» View all Commercial Banking listings

advertisement
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement

Returning users: Log In Here!

Already registered on BNET, TechRepublic, or ZDNet? Simply log in.

Free Membership: Sign Up Now!

Sign up for a free membership today and get instant and unlimited access to one of the largest databases of white papers, webcasts, and casestudies anywhere. Your FREE membership allows you to:

  • Download an unlimited amount of content, including classic and current white papers, case studies, webcasts and more
  • Track content on your chosen topics of interest
  • Receive targeted email alerts when your favorite content is added
  • Save content for future reading
  • Receive our member newsletter

When you register to access this directory, you become a member of BNET. In addition, you allow us to share your information with companies that produce products or services featured in the library--so that such companies may contact you with information and offers regarding their products and services. This enables us to keep the library a free service. As a directory registrant, you will receive a complimentary subscription to the BNET member newsletter, The BNET Report. You can unsubscribe from this newsletter at any time. By clicking the Sign up button, you indicate that you agree to our Terms and Conditions and have read and understand our Privacy Policy (updated).