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The use of stand alone warrants as unique capital raising instruments

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  • Suchard, Jo-Ann

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  • Suchard, Jo-Ann, 2005. "The use of stand alone warrants as unique capital raising instruments," Journal of Banking & Finance, Elsevier, vol. 29(5), pages 1095-1112, May.
    • Handle: RePEc:eee:jbfina:v:29:y:2005:i:5:p:1095-1112
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    1. Jean-François Gajewski & Edith Ginglinger, 2002. "Seasoned Equity Issues in a Closely Held Market: Evidence from France," Review of Finance, European Finance Association, vol. 6(3), pages 291-319.
    2. Scholes, Myron & Williams, Joseph, 1977. "Estimating betas from nonsynchronous data," Journal of Financial Economics, Elsevier, vol. 5(3), pages 309-327, December.
    3. Stewart C. Myers & Nicholas S. Majluf, 1984. "Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have," NBER Working Papers 1396, National Bureau of Economic Research, Inc.
    4. Dhatt, Manjeet S. & Kim, Yong H. & Mukherji, Sandip, 1996. "Seasoned equity issues: The Korean experience," Pacific-Basin Finance Journal, Elsevier, vol. 4(1), pages 31-43, May.
    5. Myers, Stewart C. & Majluf, Nicholas S., 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Journal of Financial Economics, Elsevier, vol. 13(2), pages 187-221, June.
    6. Slovin, M. B. & Sushka, M. E. & Lai, K. W. L., 2000. "Alternative flotation methods, adverse selection, and ownership structure: evidence from seasoned equity issuance in the U.K," Journal of Financial Economics, Elsevier, vol. 57(2), pages 157-190, August.
    7. Maynes, Elizabeth & Rumsey, John, 1993. "Conducting event studies with thinly traded stocks," Journal of Banking & Finance, Elsevier, vol. 17(1), pages 145-157, February.
    8. Fowler, David J. & Rorke, C. Harvey, 1983. "Risk measurement when shares are subject to infrequent trading : Comment," Journal of Financial Economics, Elsevier, vol. 12(2), pages 279-283, August.
    9. Schultz, Paul, 1993. "Unit initial public offerings *1: A form of staged financing," Journal of Financial Economics, Elsevier, vol. 34(2), pages 199-229, October.
    10. Lucas, Deborah J & McDonald, Robert L, 1990. "Equity Issues and Stock Price Dynamics," Journal of Finance, American Finance Association, vol. 45(4), pages 1019-1043, September.
    11. Stulz, ReneM., 1990. "Managerial discretion and optimal financing policies," Journal of Financial Economics, Elsevier, vol. 26(1), pages 3-27, July.
    12. Leland, Hayne E & Pyle, David H, 1977. "Informational Asymmetries, Financial Structure, and Financial Intermediation," Journal of Finance, American Finance Association, vol. 32(2), pages 371-387, May.
    13. Billingsley, Randall S & Lamy, Robert E & Smith, David M, 1990. "Units of Debt with Warrants: Evidence of the "Penalty-Free" Issuance of an Equity-Like Security," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 13(3), pages 187-199, Fall.
    14. Masulis, Ronald W & Ng, Victor K, 1995. "Overnight and Daytime Stock-Return Dynamics on the London Stock Exchange: The Impact of the "Big Bang" and the 1987 Stock-Market Crash," Journal of Business & Economic Statistics, American Statistical Association, vol. 13(4), pages 365-378, October.
    15. Heinkel, Robert L & Schwartz, Eduardo S, 1986. "Rights versus Underwritten Offerings: An Asymmetric Information Approach," Journal of Finance, American Finance Association, vol. 41(1), pages 1-18, March.
    16. Marsden, Alastair, 2000. "Shareholder wealth effects of rights issues: Evidence from the New Zealand capital market," Pacific-Basin Finance Journal, Elsevier, vol. 8(3-4), pages 419-442, July.
    17. Randall S. Billingsley & Robert E. Lamy & David M. Smith, 1990. "Units Of Debt With Warrants: Evidence Of The “Penalty-Free” Issuance Of An Equity-Like Security," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 13(3), pages 187-199, September.
    18. Miller, Merton H & Rock, Kevin, 1985. "Dividend Policy under Asymmetric Information," Journal of Finance, American Finance Association, vol. 40(4), pages 1031-1051, September.
    19. Kang, Jun-Koo & Stulz, Rene M, 1996. "How Different Is Japanese Corporate Finance? An Investigation of the Information Content of New Security Issues," The Review of Financial Studies, Society for Financial Studies, vol. 9(1), pages 109-139.
    20. Eckbo, B. Espen & Masulis, Ronald W., 1992. "Adverse selection and the rights offer paradox," Journal of Financial Economics, Elsevier, vol. 32(3), pages 293-332, December.
    21. DeAngelo, Harry & Masulis, Ronald W., 1980. "Optimal capital structure under corporate and personal taxation," Journal of Financial Economics, Elsevier, vol. 8(1), pages 3-29, March.
    22. Gordon Gemmill & Dylan Thomas, 1997. "Warrants on the London Stock Exchange: Pricing Biases and Investor Confusion," Review of Finance, European Finance Association, vol. 1(1), pages 31-49.
    23. Heinkel, Robert, 1982. "A Theory of Capital Structure Relevance under Imperfect Information," Journal of Finance, American Finance Association, vol. 37(5), pages 1141-1150, December.
    24. B[oslash]hren, [Oslash]yvind & Eckbo, B. Espen & Michalsen, Dag, 1997. "Why underwrite rights offerings? Some new evidence," Journal of Financial Economics, Elsevier, vol. 46(2), pages 223-261, November.
    25. Dimson, Elroy, 1979. "Risk measurement when shares are subject to infrequent trading," Journal of Financial Economics, Elsevier, vol. 7(2), pages 197-226, June.
    26. Peter A. Brous & Omesh Kini, 1994. "The Valuation Effects of Equity Issues and the Level of Institutional Ownership: Evidence from Analysts' Earnings Forecasts," Financial Management, Financial Management Association, vol. 23(1), Spring.
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    28. Lauterbach, Beni & Schultz, Paul, 1990. "Pricing Warrants: An Empirical Study of the Black-Scholes Model and Its Alternatives," Journal of Finance, American Finance Association, vol. 45(4), pages 1181-1209, September.
    29. Ambarish, Ramasastry & John, Kose & Williams, Joseph, 1987. "Efficient Signalling with Dividends and Investments," Journal of Finance, American Finance Association, vol. 42(2), pages 321-343, June.
    30. Katherine L. Phelps & William T. Moore & Rodney L. Roenfeldt, 1991. "Equity Valuation Effects Of Warrant-Debt Financing," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 14(2), pages 93-103, June.
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    Cited by:

    1. Suchard, Jo-Ann & Singh, Manohar, 2006. "The determinants of the hybrid security issuance decision for Australian firms," Pacific-Basin Finance Journal, Elsevier, vol. 14(3), pages 269-290, June.
    2. Yao, Zhihua, 2021. "The choice of equity financing: Floating-priced warrants versus SEOs," Pacific-Basin Finance Journal, Elsevier, vol. 69(C).
    3. Carlos Miguel Glória & José Carlos Dias & Aricson Cruz, 2024. "Pricing levered warrants under the CEV diffusion model," Review of Derivatives Research, Springer, vol. 27(1), pages 55-84, April.

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