Matches in SemOpenAlex for { <https://semopenalex.org/work/W1967784865> ?p ?o ?g. }
- W1967784865 abstract "Firms increasingly issue shares for the purpose of cash savings. During the 1970s, $1.00 of issuance resulted in $0.23 of cash savings; over the most recent decade $1.00 of issuance resulted in $0.60 of cash savings. This increase is caused by increasing precautionary motives. Proxies for precautionary motives increase over the sample period, and firm-level increases in these proxies are associated with firm-level increases in share issuance-cash savings. Share issuance-cash savings are inversely related to issuance costs, suggesting that firms issue and save when costs are low, so as to avoid issuing when costs are high. This framework can also help explain patterns and trends in share issuance activity over time. Market timing does not explain these effects, as share issuance-cash savings are not related to post-issuance stock returns." @default.
- W1967784865 created "2016-06-24" @default.
- W1967784865 creator A5041324083 @default.
- W1967784865 date "2010-03-01" @default.
- W1967784865 modified "2023-10-03" @default.
- W1967784865 title "Share Issuance and Cash Savings" @default.
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