1. STORRE
  2. Stirling Management School
  3. Accounting and Finance
  4. Accounting and Finance Journal Articles
Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/23082
Full metadata record
DC FieldValueLanguage
dc.contributor.authorArmitage, Sethen_UK
dc.contributor.authorDionysiou, Dionysiaen_UK
dc.contributor.authorGonzalez, Angelicaen_UK
dc.date.accessioned2016-04-22T03:15:31Z-
dc.date.available2016-04-22T03:15:31Z-
dc.date.issued2014-06en_UK
dc.identifier.urihttp://hdl.handle.net/1893/23082-
dc.description.abstractThis paper investigates the large and diverse discounts in UK open offers and placings. Large discounts are a substantial cost to shareholders who do not buy new shares. The existing literature mainly examines US firm-commitment offers and private placements. The institutional setting differs in the UK, in ways that make the theory of inelastic demand for shares more important as an explanation for discounts than in the US. The paper finds that inelastic demand, or illiquidity of the issuer's shares, and financial distress, are key determinants of the discount. We expect these results to apply to other stock markets.en_UK
dc.language.isoenen_UK
dc.publisherWiley-Blackwellen_UK
dc.relationArmitage S, Dionysiou D & Gonzalez A (2014) Are the Discounts in Seasoned Equity Offers Due to Inelastic Demand?. Journal of Business Finance and Accounting, 41 (5-6), pp. 743-772. https://doi.org/10.1111/jbfa.12074en_UK
dc.rightsThe publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.en_UK
dc.rights.urihttp://www.rioxx.net/licenses/under-embargo-all-rights-reserveden_UK
dc.subjectseasoned equity offeren_UK
dc.subjectdiscounten_UK
dc.subjectinelastic demanden_UK
dc.subjectopen offeren_UK
dc.subjectplacingen_UK
dc.titleAre the Discounts in Seasoned Equity Offers Due to Inelastic Demand?en_UK
dc.typeJournal Articleen_UK
dc.rights.embargodate2999-12-16en_UK
dc.rights.embargoreason[Armitage_et_al-2014-Journal_of_Business_Finance__Accounting.pdf] The publisher does not allow this work to be made publicly available in this Repository therefore there is an embargo on the full text of the work.en_UK
dc.identifier.doi10.1111/jbfa.12074en_UK
dc.citation.jtitleJournal of Business Finance and Accountingen_UK
dc.citation.issn1468-5957en_UK
dc.citation.issn0306-686Xen_UK
dc.citation.volume41en_UK
dc.citation.issue5-6en_UK
dc.citation.spage743en_UK
dc.citation.epage772en_UK
dc.citation.publicationstatusPublisheden_UK
dc.citation.peerreviewedRefereeden_UK
dc.type.statusVoR - Version of Recorden_UK
dc.author.emaildionysia.dionysiou@stir.ac.uken_UK
dc.citation.date15/05/2014en_UK
dc.contributor.affiliationUniversity of Edinburghen_UK
dc.contributor.affiliationAccounting & Financeen_UK
dc.contributor.affiliationUniversity of Edinburghen_UK
dc.identifier.isiWOS:000340670800009en_UK
dc.identifier.scopusid2-s2.0-84904331823en_UK
dc.identifier.wtid573399en_UK
dc.contributor.orcid0000-0002-1740-2095en_UK
dcterms.dateAccepted2014-05-15en_UK
dc.date.filedepositdate2016-04-20en_UK
rioxxterms.apcnot requireden_UK
rioxxterms.typeJournal Article/Reviewen_UK
rioxxterms.versionVoRen_UK
local.rioxx.authorArmitage, Seth|en_UK
local.rioxx.authorDionysiou, Dionysia|0000-0002-1740-2095en_UK
local.rioxx.authorGonzalez, Angelica|en_UK
local.rioxx.projectInternal Project|University of Stirling|https://isni.org/isni/0000000122484331en_UK
local.rioxx.freetoreaddate2999-12-16en_UK
local.rioxx.licencehttp://www.rioxx.net/licenses/under-embargo-all-rights-reserved||en_UK
local.rioxx.filenameArmitage_et_al-2014-Journal_of_Business_Finance__Accounting.pdfen_UK
local.rioxx.filecount1en_UK
local.rioxx.source0306-686Xen_UK
Appears in Collections:Accounting and Finance Journal Articles

Files in This Item:
File Description SizeFormat 
Armitage_et_al-2014-Journal_of_Business_Finance__Accounting.pdfFulltext - Published Version242.62 kBAdobe PDFUnder Embargo until 2999-12-16    Request a copy


This item is protected by original copyright

View License
Show simple item record


Items in the Repository are protected by copyright, with all rights reserved, unless otherwise indicated.

The metadata of the records in the Repository are available under the CC0 public domain dedication: No Rights Reserved https://creativecommons.org/publicdomain/zero/1.0/

If you believe that any material held in STORRE infringes copyright, please contact library@stir.ac.uk providing details and we will remove the Work from public display in STORRE and investigate your claim.