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Indexed by:会议论文

Date of Publication:2017-01-01

Included Journals:CPCI-SSH

Page Number:360-365

Key Words:seasoned equity offering; market timing theory; institution investor demand

Abstract:Institution investors have become the principal part of capital market in China and their impact is getting bigger and bigger in refinancing. To a certain extent, institutional investors' need represents the market need. On the base of Market timing hypothesis, we use the change of institutional investors' number to represent their need of stock and use multiple linear regression model to analyze the influence of the institutional investors' need for SEO. The results show that the higher demand of institutional investors, the possibility of SEO is also higher.