On Managerial Motive of Issuing IPOs in Taiwan: Potential Investment Opportunity vs. Outside Equity Cost
| Autor: | Feng-Chuan Cheng, 鄭鳳娟 |
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| Rok vydání: | 2012 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 100 “Outside Equity Cost” hypothesis states that investors are rational and the firm’s managers know more information of firm’s value than external investors in the presence of asymmetric information. When firms are not financing investment activities by issuing debt, but instead by issuing equity to raise funds, then stock prices could be underestimated. Firms might give up the projects of positive net present value since they only consult the original stockholders |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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