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 : Xavier Gabaix

13 juin 2019 - T104 - De 14h00 à 15h15


Finance

Intervenant : Adriano Rampini

23 mai 2019 - T105 - De 14h00 à 15h15


Finance

Intervenant : Luke Taylor

16 mai 2019 - T105 - De 14h00 à 15h15


Finance

Intervenant : Jessica Jeffers

18 avril 2019 - T104 - De 14h00 à 15h15


Finance

Intervenant : Emil Verner

4 avril 2019 - T104 - De 14h00 à 15h15


Contacts  

Département Finance 

Campus HEC Paris
1, rue de la Libération
78351 Jouy-en-Josas cedex
France

Faculté  

Patrick LEGLAND

Finance

Voir le CV

4th Annual HEC Paris Workshop Preliminary Program “Banking, Finance, Macroeconomics and the Real Economy”  


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