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Corporate Financing in The Netherlands: Some Empirical Evidence

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Author Info
Kabir, Rezaul () (Tilburg University)
Abstract

The purpose of this paper is to examine the financing behaviour of Dutch corporations and its impact on firm performance. First, I present some stylised facts of corporate financing in the Netherlands. I show how the Dutch financial system differs from other major financial systems. Second, I analyse the valuation effect of different types of security offerings made by Dutch quoted firms. An evaluation of the determinants of the valuation effect is also made. Third, I explore the long-term impact of equity offerings by focusing on fundamental performance measures

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Paper provided by United Nations University, Institute for New Technologies in its series EIFC - Technology and Finance Working Papers with number 32.

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Date of creation: 2003
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Handle: RePEc:dgr:unutaf:eifc03-32

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Related research
Keywords: financial systems; corporate governance; capital structure; security offering;

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    Other versions:
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  6. Graham, John R. & Harvey, Campbell R., 2001. "The theory and practice of corporate finance: evidence from the field," Journal of Financial Economics, Elsevier, vol. 60(2-3), pages 187-243, May. [Downloadable!] (restricted)
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    Other versions:
  9. Choe, Hyuk & Masulis, Ronald W. & Nanda, Vikram, 1993. "Common stock offerings across the business cycle : Theory and evidence," Journal of Empirical Finance, Elsevier, vol. 1(1), pages 3-31, June. [Downloadable!] (restricted)
  10. Spiess, D. Katherine & Affleck-Graves, John, 1995. "Underperformance in long-run stock returns following seasoned equity offerings," Journal of Financial Economics, Elsevier, vol. 38(3), pages 243-267, July. [Downloadable!] (restricted)
  11. Mario Levis, 1995. "Seasoned equity offerings and the short- and long-run performance of initial public offerings in the UK," European Financial Management, Blackwell Publishing Ltd, vol. 1(2), pages 125-146. [Downloadable!] (restricted)
  12. Loughran, Tim & Ritter, Jay R, 1997. " The Operating Performance of Firms Conducting Seasoned Equity Offerings," Journal of Finance, American Finance Association, vol. 52(5), pages 1823-50, December. [Downloadable!] (restricted)
  13. B[oslash]hren, [Oslash]yvind & Eckbo, B. Espen & Michalsen, Dag, 1997. "Why underwrite rights offerings? Some new evidence," Journal of Financial Economics, Elsevier, vol. 46(2), pages 223-261, November. [Downloadable!] (restricted)
  14. Nickolaos V. Tsangarakis, 1996. "Shareholder Wealth Effects of Equity Issues in Emerging Markets: Evidence from Rights Offerings in Greece," Financial Management, Financial Management Association, vol. 25(3), Fall.
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  16. Roon, F. de & Veld, C., 1995. "Announcement Effects of Convertible Bond Loans versus Warrant-Bond Loans : An Empirical Analysis for the Dutch Market," Discussion Paper 9, Tilburg University, Center for Economic Research. [Downloadable!]
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