| DC Field | Value | Language |
|---|---|---|
| dc.contributor | School of Accounting and Finance | en_US |
| dc.creator | Chan, YC | en_US |
| dc.creator | Saffar, W | en_US |
| dc.creator | Wei, KCJ | en_US |
| dc.date.accessioned | 2021-05-18T08:20:18Z | - |
| dc.date.available | 2021-05-18T08:20:18Z | - |
| dc.identifier.issn | 1572-3089 | en_US |
| dc.identifier.uri | http://hdl.handle.net/10397/90025 | - |
| dc.language.iso | en | en_US |
| dc.publisher | Elsevier | en_US |
| dc.subject | Economic policy uncertainty | en_US |
| dc.subject | Seasoned equity offerings | en_US |
| dc.subject | SEO discounts | en_US |
| dc.title | How economic policy uncertainty affects the cost of raising equity capital : evidence from seasoned equity offerings | en_US |
| dc.type | Journal/Magazine Article | en_US |
| dc.identifier.volume | 53 | en_US |
| dc.identifier.doi | 10.1016/j.jfs.2020.100841 | en_US |
| dcterms.abstract | Economic policy uncertainty (EPU) increases the cost of raising equity capital, especially when the economy is weak. A one standard deviation increase in the EPU index developed by Baker, Bloom, and Davis (2016) is associated with a 43 basis point increase in the price discount of seasoned equity offerings (SEOs) during the 2000−2014 period. The cross-sectional analysis shows that the EPU effect on SEO discounts is stronger for firms with greater dependence on government spending, less informative stock price, or a smaller EPU beta. Moreover, there are fewer SEO activities in periods when there is a high degree of policy uncertainty. | en_US |
| dcterms.accessRights | embargoed access | en_US |
| dcterms.bibliographicCitation | Journal of financial stability, Apr. 2021, v. 53, 100841 | en_US |
| dcterms.isPartOf | Journal of financial stability | en_US |
| dcterms.issued | 2021-04 | - |
| dc.identifier.scopus | 2-s2.0-85098537839 | - |
| dc.identifier.eissn | 1878-0962 | en_US |
| dc.identifier.artn | 100841 | en_US |
| dc.description.validate | 202105 bchy | en_US |
| dc.description.oa | Not applicable | en_US |
| dc.identifier.FolderNumber | a0801-n06 | - |
| dc.description.fundingSource | Self-funded | en_US |
| dc.description.pubStatus | Published | en_US |
| dc.date.embargo | 2023.04.29 | en_US |
| Appears in Collections: | Journal/Magazine Article | |
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