Equity considerations in the timing of distress
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Equity considerations in the timing of distress by Paul J. Tranter

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Published by Dept. of Geography, University of New South Wales at Royal Military College in Duntroon, A.C.T., Australia .
Written in English



  • Canberra (A.C.T.),
  • Australia.


  • Urbanization -- Australia.,
  • Time management -- Australia.,
  • Spatial behavior -- Australia.,
  • Stress (Psychology) -- Australia.,
  • Canberra (A.C.T.) -- Case studies.

Book details:

Edition Notes

Bibliography: leaves 16-18.

Statementby Paul Tranter.
SeriesOccasional paper ;, no. 44, Occasional paper (Royal Military College (Duntroon, A.C.T.). Dept. of Geography) ;, no. 44.
LC ClassificationsHT384.A8 T73 1984
The Physical Object
Pagination18 leaves ; 30 cm.
Number of Pages30
ID Numbers
Open LibraryOL2593599M
ISBN 100908254547
LC Control Number85147157

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1. Introduction. Firms that conduct seasoned equity offerings (SEOs) typically have high share valuations that increase markedly before the SEO (Asquith and Mullins, ; Masulis and Korwar, ).These signature regularities are inconsistent with the two theories of financial policy that dominate the post-Modigliani and Miller literature: Myers and Majluf's () Cited by: Equity market timing and capital structure: International evidence. account other considerations when timing the equity market and poses some interesting questions on the viability of market. This study explores the hypothesis that firm size, past returns, and book-to-market equity predict stock returns because of a premium for default or distress risk. Small size, low past returns. equity and hedge fund formats, and illustrate investment considerations such as risk and return drivers, and market dynamics. An Increasingly Popular Sub-Asset Class Over the past 20 years, distressed debt investing has become increasingly popular. The distressed debt market has increased in size with private equity firms.

Market Timing, Valuation, and Systematic Purchases. I have a lot of work to do but I’m sitting at my desk, the snow is on the ground outside, I have a fresh cup of coffee in front of me, and I don’t really feel like diving into my task list quite yet. capital structure: Capital structure is the way a corporation finances its assets, through a combination of debt, equity, and hybrid securities. cost of capital: the rate of return that capital could be expected to earn in an alternative investment of equivalent risk; leverage: Debt taken on by a firm in order to finance assets. the root of timing considerations. Third, and most important, timing attempts so avoiding financial distress is not the likely cause of issuing more equity in hot markets. Differences in growth char- and Titman () focus on the market-to-book ratio to capture timing attempts. 4. The Impact of Market Timing on Capital Structure File Size: KB. Steven Neil Kaplan conducts research on issues in private equity, venture capital, entrepreneurial finance, corporate governance and corporate finance. He has published papers in a number of academic and business journals. Kaplan is a research associate at the National Bureau of Economic Research and an associate editor of the Journal of.

We’re going to talk about what I call timing considerations of your bankruptcy. I’m going to try to translate that into regular, plain talk but it’s about how you have to take a really educated view on when you should pull the trigger on filing your bankruptcy case because there are . should be largely irrelevant to both issue timing and the choice of security7 (see Marsh [22]). In spite of this, timing considerations are regarded as being extremely important by both companies and their financial advisers (see, for example, Bodenhammer [5]). In particular, equity issues seem to be favored after periods. Evidence for market timing comes from a variety of different sources. Start-ing with Taggart (), several studies demonstrate the tendency of firms to issue equity when their market valuations are high relative to book values or past market values.3 This line of research utilizes forward-looking market timing measures. considerations and these considerations can change over time, which is one reason the IRS has always applied its own lens to the situation. In general, whether an instrument qualifies as debt or equity for tax purposes is a question of fact. [Howard J. Rothman, Pamela M. Capps, Barry Herzog and Mary Jo Brady, Transfers to.