Séminaires de recherche

Capital Inflows and Equity Issuance Activity

Finance

Intervenant : Mauricio Larrain
Columbia Business School

11 mai 2017 - T004 - De 14h00 à 15h15


We use issuance-level data to study the relation between equity capital inflows and the issuance of equity by emerging market firms. We start by showing that equity inflows are associated with higher values of country-level equity issuance proceeds. Equity inflows and the cost of equity capital are shown to be negatively correlated, suggesting that the increase of equity proceeds is largely driven by increased foreign equity capital supply. Next, we find that capital inflows substantially increase the likelihood of raising equity and the value of equity proceeds of a subset of firms that issue large amounts of equity during our sample period. When we control for potential endogeneity of equity demand, using mutual fund flows as a supply-side instrument, our results are confirmed. Finally, we find that the impact of equity inflows on issuance is also associated with significant increases in investment and employment.

Finance

Intervenant : Matthieu Bouvard
Desautels Faculty of Management

14 juin 2018 - De 14h00 à 15h15


Finance

Intervenant : Mikhail Simutin
Rotman School of Management

7 juin 2018 - De 14h00 à 15h15


Finance

Intervenant : Liyan Yang
Rotman School of Management

31 mai 2018 - De 14h00 à 15h15


Finance

Intervenant : Anton Lines
Columbia Business School

24 mai 2018 - De 14h00 à 15h15


Finance

Intervenant : Ian Martin
LSE

17 mai 2018 - De 14h00 à 15h15



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