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Applied Economics Letters Volume 18, 2011 - Issue 15
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Original Articles

Market discounts and announcement effects of private placements: evidence from China

Deng Lu Department of Accounting, School of Economics and Management, Beihang University, Beijing, China
,
Li Si-fei Department of Finance, Faculty of Business Administration, The Chinese University of Hong Kong, Ma Liu Shui, Hong Kong
&
Wu Wei-xing RCAF and School of Banking and Finance, University of International Business and Economics, Beijing, ChinaCorrespondence[email protected]
Pages 1411-1414 | Published online: 15 Mar 2011

References

  • Chen , S. S. , Ho , K. W. , Lee , C. F. and Yeo , G. H. H. 2002 . Wealth effects of private equity placements: evidence from Singapore . Financial Review , 37 : 165 – 84 .
  • Hertzel , M. and Smith , R. 1993 . Market discounts and shareholder gains for placing equity privately . Journal of Finance , 48 : 459 – 85 .
  • Kato , K. and Schallheim , J. S. 1993 . Private equity financing in Japan and corporate grouping (keiretsu) . Pacific-Basin Finance Journal , 1 : 287 – 307 .
  • Krishnamurthy , S. , Spindt , P. , Subramaniam , V. and Woidtke , T. 2005 . Does investor identity matter in equity issues? Evidence from private placements . Journal of Financial Intermediation , 14 : 210 – 38 .
  • Renneboog , L. , Simons , T. and Wright , M. 2007 . Why do public firms go private in the UK? The impact of private equity investors, incentive realignment and undervaluation . Journal of Corporate Finance , 13 : 591 – 628 .
  • Wruck , K. H. 1989 . Equity ownership concentration and firm value: evidence from private equity financings . Journal of Financial Economics , 23 : 2 – 38 .
  • Wu , X. P. , Wang , Z. and Yao , J. 2005 . Understanding the positive announcement effects of private equity placements: new insights from Hong Kong data . Review of Finance , 9 : 385 – 414 .

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