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Equity financing decisions : a Canadian perspective


Equity financing decisions : a Canadian perspective

McHarg, Stephen (2002) Equity financing decisions : a Canadian perspective. Masters thesis, Concordia University.

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We document the operating performance of Canadian firms that issue different types of seasoned equity financings (common shares, units, warrants) and initial public offerings in the years prior to and following their issue. The results indicate that the operating performance of public firms that issue equity decline in the years following such issues. This underperformance is more pronounced among firms with smaller market capitalizations. The price to book ratio is not a significant determinant of the change in median operating performance of issuers after issue. The operating performance of issuing firms in the consumer products industry underperforms that of the industrial, natural products, and 'others' industries.

Divisions:Concordia University > John Molson School of Business
Item Type:Thesis (Masters)
Authors:McHarg, Stephen
Pagination:vii, 79 leaves ; 29 cm.
Institution:Concordia University
Degree Name:Theses (M.Sc.Admin.)
Program:John Molson School of Business
Thesis Supervisor(s):Kryzanowski, Lawrence D
Identification Number:HG 5152 M34 2002
ID Code:1746
Deposited By: Concordia University Library
Deposited On:27 Aug 2009 17:22
Last Modified:13 Jul 2020 19:50
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