Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/90025
DC FieldValueLanguage
dc.contributorSchool of Accounting and Financeen_US
dc.creatorChan, YCen_US
dc.creatorSaffar, Wen_US
dc.creatorWei, KCJen_US
dc.date.accessioned2021-05-18T08:20:18Z-
dc.date.available2021-05-18T08:20:18Z-
dc.identifier.issn1572-3089en_US
dc.identifier.urihttp://hdl.handle.net/10397/90025-
dc.language.isoenen_US
dc.publisherElsevieren_US
dc.subjectEconomic policy uncertaintyen_US
dc.subjectSeasoned equity offeringsen_US
dc.subjectSEO discountsen_US
dc.titleHow economic policy uncertainty affects the cost of raising equity capital : evidence from seasoned equity offeringsen_US
dc.typeJournal/Magazine Articleen_US
dc.identifier.volume53en_US
dc.identifier.doi10.1016/j.jfs.2020.100841en_US
dcterms.abstractEconomic 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.accessRightsembargoed accessen_US
dcterms.bibliographicCitationJournal of financial stability, Apr. 2021, v. 53, 100841en_US
dcterms.isPartOfJournal of financial stabilityen_US
dcterms.issued2021-04-
dc.identifier.scopus2-s2.0-85098537839-
dc.identifier.eissn1878-0962en_US
dc.identifier.artn100841en_US
dc.description.validate202105 bchyen_US
dc.description.oaNot applicableen_US
dc.identifier.FolderNumbera0801-n06-
dc.description.fundingSourceSelf-fundeden_US
dc.description.pubStatusPublisheden_US
dc.date.embargo2023-04-29en_US
Appears in Collections:Journal/Magazine Article
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Embargo End Date 2023-04-29
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