Department of Finance, College of Business, Arizona State University. We thank Hank Bessembinder, Bart Broadman, John Byrd, Kalok Chan, Saeyoung Chang, Jack Cooney, Espen Eckbo, Paul Healy, Wayne Mikkelson, Megan Partch, George Racette, Jim Schallheim, Dennis Sheehan, Janet Smith, René Stulz, Michael Vetsuypens, Karen Wruck, two referees and seminar participants at Arizona State University, the University of Arizona, and the University of Oregon for helpful comments on earlier drafts. The paper, previously titled “Market responses to equity private placement announcements and the pricing of privately placed equity,” was presented at the American Finance Association Annual meeting, December 1990. Financial support from the Center for Financial System Research at Arizona State University is acknowledged.
Market Discounts and Shareholder Gains for Placing Equity Privately
Article first published online: 30 APR 2012
1993 The American Finance Association
The Journal of Finance
Volume 48, Issue 2, pages 459–485, June 1993
How to Cite
HERTZEL, M. and SMITH, R. L. (1993), Market Discounts and Shareholder Gains for Placing Equity Privately. The Journal of Finance, 48: 459–485. doi: 10.1111/j.1540-6261.1993.tb04723.x
- Issue published online: 30 APR 2012
- Article first published online: 30 APR 2012
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