Specyfika spółek dokonujących emisji SEO na giełdzie ASX
Some facts about companies placing their SEO issues on the ASX

Summary/Abstract: Many empirical studies in recent years tries to evaluate the effect of initial and seasoned equity issues on long-run performance. The key issue here is the proper method of abnormal returns calculation. These methods usually concentrate on characteristic- -based risk factors. The paper explores characteristics of firms offering seasoned equity during 1998-2011 on the Australian Securities Exchange. The research shows that SEO firms are usually smaller than other companies in terms of their capitalization and book value. They also usually have higher return on sales in the year of the issue, but it seems to change in the years of the last financial crisis. SEO-firms are also firms with lower EPS and B/M ratio. Equity offerings are preceded by a period of high average returns.

• Details
• Contents