This paper examines the relation between the Seasoned Equity Offering (SEO) announcement effect and earnings timeliness. I predict that firms with greater earnings timeliness tend to have less information asymmetry between managers and investors, thus decreasing the magnitude of the price drop at the SEO announcement. As anticipated, I find that SEO negative announcement effect varies inversely...

Insider trading problems relating to Japanese seasoned equity offerings (SEO) have attracted the attention of many investors. The purpose of this paper is to examine SEO insider problem and to provide suggestions to solve the problem. We have several findings. First, all four of the SEO insider firms experienced negative abnormal stock returns and high trading volume just two weeks before SEO a...

nowadays, suppliers in order to maintain and improve their positions against othernational and international suppliers take advantage of their brand equity, but the problem is that industrial suppliers do not know what factors are influencing for development and promotion industrial brand equity and also do not know how to enhance brand equity, to improve brand performance in industrial markets...

OBJECTIVE Social media engagement by adolescent girls is high. Despite its appeal, there are potential negative consequences for body dissatisfaction and disordered eating from social media use. This study aimed to examine, in a cross-sectional design, the relationship between social media use in general, and social media activities related to taking "selfies" and sharing specifically, with ove...

As real options analysis (ROA) is being applied to increasingly complex information technology (IT) investment problems, a concern arises over the use heuristic ROA models that are simpler to apply but can produce overvaluations. A good example is the application of a heuristic nested variation of the Black–Scholes (BS) model to the evaluation of interrelated IT investments as nested options. T...

This paper studies the dynamics of the IPO (Initial Public Offering) market and its effect on real investment decisions in emerging industries. We first propose a model of IPOs cycle based on divergence of opinion among investors and short-sale constraints. Using a real option approach, we show that firms are more likely to go public when the ratio of overvaluation over profits is high, that is...

In this paper Freud's work on animism and magic is elaborated. Those two subjects are presented mainly in his work "Totem and Taboo" (1913). The true motives, which lead primitive man to practice magic are, according to Freud, human whishes and his immense belief in their power. Importance attached to wishes and to the will has been extended from them to all those psychical acts, which are subj...

We report the results from a questionnaire-type experiment designed to elicit whether individuals decide in accordance with the equity axiom constituent for Rawls’s second principle. The experiment is sequential in nature. Hence it generates data with panel data properties. We use recently developed panel data methods for studying the role that state dependence and unobservable individual-speci...

This paper presents an empirical analysis of whether independent and dependent private equity investors affect the underpricing of firms which went public on the Nouveau Marché and on the Neuer Markt between 1997 and 2000. In the sample of the Neuer Markt, the involvement of private equity investors reduces the underpricing of the firms' shares only if private equity investors sell a part of th...