Long Term Performance and Choice of SEO Method by UK Firms
研究了英国公司在自由选择增发方式时，不同方式（配股与定向增发）的长期业绩差异，发现配股公司更少利用时机进行高估发行，且长期质量不逊于其他方式。
Abstract: The long term performance of firms making seasoned equity offerings (SEOs) in the UK, in an era of discretion over the choice of issue method, is shown to differ according to the chosen method across a number of different models of expected returns. The combination of prior and post‐SEO performance suggests that rights offering firms are less likely to time offers to exploit overvaluation than firms using placings. When judged on a long term basis rights offering firms are not of lesser quality than firms that choose other offering methods.