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The Impact of SEC Rule 144A on Corporate Debt Issuance by International Firms
16 references·16 citing·48 second hopsampled
The Impact of SEC Rule 144A on Corporate Debt Issuance by International Firms (2004)The Impact of SEC Rule 144A on Corporate …Speed of issuance and the adequacy of disclosure in the 144A high-yield debt market (2000)Speed of issuance and the ade…Information asymmetry, monitoring, and the placement structure of corporate debt1We thank David Brown, Mark Carey, Stephane Chretien, Michael Cliff, Hemang Desai, Bob Dittmar, Charles Hadlock, Paisan Limratanamongkol, Karl Lins, Vojislav Maksimovic, Beverly Marshall, David Mauer, Erlend Nier, Russ Robins, Vic Sarna, Richard Shockley, Anjan Thakor, Joaquin Trigueros, Robert Weigand, Marc Zenner, and seminar participants at Texas A&M, Tulane, the 1996 FMA meetings, the 1997 WFA meetings, and the 1998 EFMA meetings for helpful comments. We are especially grateful to David Blackwell (the referee), and Clifford Smith (the editor) for suggestions that have improved the paper substantially.1 (1999)Information asymmetry, monito…Information Asymmetry, Monitoring, and the Placement Structure of Corporate Debt (1998)Information Asymmetry, Monito…Proprietary Information, Financial Intermediation, and Research Incentives (1995)Proprietary Information, Fina…Information Disclosure Costs and the Choice of Financing Source (1995)Information Disclosure Costs …Home bias and high turnover (1995)Home bias and high turnoverSequential Sales, Learning, and Cascades (1992)Sequential Sales, Learning, a…Reputation Acquisition in Debt Markets (1989)Reputation Acquisition in Deb…The Eurobond market and corporate financial policy (1988)The Eurobond market and corpo…An investigation of cost differences between public sales and private placements of debt (1988)An investigation of cost diff…Some evidence on the uniqueness of bank loans (1987)Some evidence on the uniquene…A Simple Model of Capital Market Equilibrium with Incomplete Information (1987)A Simple Model of Capital Mar…Issuing costs to existing shareholders in competitive and negotiated underwritten public utility equity offerings (1986)Issuing costs to existing sha…Asset pricing and the bid-ask spread (1986)Asset pricing and the bid-ask…Corporate financing and investment decisions when firms have information that investors do not have (1984)Corporate financing and inves…Business Cycles, Indicators, and ForecastingBusiness Cycles, Indicators, …Liability of foreignness in capital markets: Institutional distance and the cost of debt (2017)Liability of foreignness in c…Equity cross-listings in the U.S. and the price of debt (2017)Equity cross-listings in the …How Firms Borrow in International Bond Markets: Securities Regulation and Market Segmentation (2016)How Firms Borrow in Internati…The JOBS Act and the Costs of Going Public (2014)The JOBS Act and the Costs of…Signaling Organizational Virtue: an Examination of Virtue Rhetoric, Country‐Level Corruption, and Performance of Foreign IPOs from Emerging and Developed Economies (2013)Signaling Organizational Virt…Credit rating initiation and accounting quality for emerging-market firms (2013)Credit rating initiation and …Do Investment Banks' Relationships with Investors Impact Pricing? The Case of Convertible Bond Issues (2012)Do Investment Banks' Relation…The Sarbanes-Oxley Act and the Choice of Bond Market by Foreign Firms (2011)The Sarbanes-Oxley Act and th…Transparency, Liquidity, and Valuation: International Evidence (2010)Transparency, Liquidity, and …The corporate choice between public debt, bank loans, traditional private debt placements, and 144A debt issues (2010)The corporate choice between …Speed of Issuance, Lender Specialization, and the Rise of the 144A Debt Market (2010)Speed of Issuance, Lender Spe…Interest rate changes and the timing of debt issues (2008)Interest rate changes and the…Foreign currency-denominated borrowing in the absence of operating incentives☆ (2007)Foreign currency-denominated …Stock and Bond Liquidity and its Effect on Prices and Financial Policies (2006)Stock and Bond Liquidity and …Security Fungibility and the Cost of Capital: Evidence from Global Bonds (2005)Security Fungibility and the …The Effect of Capital Structure When Expected Agency Costs are Extreme (2001)The Effect of Capital Structu…ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)Financial Intermediation and Delegated Monitoring (1984)Covenants and Collateral as Incentives to Monitor (1995)Can Relationship Banking Survive Competition? (2000)Distance and Private Information in Lending (2010)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Risk, Return, and Equilibrium: Empirical Tests (1973)The Framing of Decisions and the Psychology of Choice (1981)The Limits of Arbitrage (1995)Illiquidity and stock returns: cross-section and time-series effects (2002)The Cross‐Section of Volatility and Expected Returns (2006)The relationship between return and market value of common stocks (1981)The theory and practice of econometrics (1986)Liquidity Risk and Expected Stock Returns (2003)Investor Sentiment and the Cross‐Section of Stock Returns (2006)An equilibrium model of the international capital market (1974)International Portfolio Choice and Corporation Finance: A Synthesis (1983)Investor Diversification and International Equity Markets (1991)International Portfolio Investment Flows (1997)Trying to Explain Home Bias in Equities and Consumption (1999)Local Does as Local Is: Information Content of the Geography of Individual Investors' Common Stock Investments (2005)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Agency Problems and the Theory of the Firm (1980)Credit Rationing in Markets with Imperfect Information (1981)The importance of relationships to the availability of credit (1998)Herding among Investment Newsletters: Theory and Evidence (1999)The Digitization of Word of Mouth: Promise and Challenges of Online Feedback Mechanisms (2003)Bank Runs, Deposit Insurance, and Liquidity (1983)Herd Behavior and Investment (1988)A Simple Model of Herd Behavior (1992)Rational herding in financial economics (1996)An examination of herd behavior in equity markets: An international perspective (2000)Why Don’t Issuers Get Upset About Leaving Money on the Table in IPOs? (2002)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)Determinants of corporate borrowing (1977)The Capital Structure Puzzle (1984)A Survey of Corporate Governance (1997)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)Positive Accounting Theory (1985)Does Public Ownership of Equity Improve Earnings Quality? (2009)Does the Market Respond to an Endorsement of Social Responsibility? The Role of Institutions, Information, and Legitimacy (2009)Social Capital and Debt Contracting: Evidence from Bank Loans and Public Bonds (2017)Financial System Architecture (1997)Banks versus Venture Capital: Project Evaluation, Screening, and Expropriation (2004)Why do firms go dark? Causes and economic consequences of voluntary SEC deregistrations (2008)The Economics of Bank Regulation (1998)Diversity of Opinion and Financing of New Technologies (1999)Syndicated Loans (2000)
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References

  • 1984Corporate financing and investment decisions when firms have information that investors do not have18,936 cited
  • 1987A Simple Model of Capital Market Equilibrium with Incomplete Information5,808 cited
  • 1986Asset pricing and the bid-ask spread5,087 cited
  • 1989Reputation Acquisition in Debt Markets1,627 cited
  • 1987Some evidence on the uniqueness of bank loans1,609 cited
  • 1992Sequential Sales, Learning, and Cascades1,301 cited
  • 1995Home bias and high turnover1,245 cited
  • 1995Proprietary Information, Financial Intermediation, and Research Incentives538 cited
  • 1995Information Disclosure Costs and the Choice of Financing Source531 cited
  • 1999Information asymmetry, monitoring, and the placement structure of corporate debt1We thank David Brown, Mark Carey, Stephane Chretien, Michael Cliff, Hemang Desai, Bob Dittmar, Charles Hadlock, Paisan Limratanamongkol, Karl Lins, Vojislav Maksimovic, Beverly Marshall, David Mauer, Erlend Nier, Russ Robins, Vic Sarna, Richard Shockley, Anjan Thakor, Joaquin Trigueros, Robert Weigand, Marc Zenner, and seminar participants at Texas A&M, Tulane, the 1996 FMA meetings, the 1997 WFA meetings, and the 1998 EFMA meetings for helpful comments. We are especially grateful to David Blackwell (the referee), and Clifford Smith (the editor) for suggestions that have improved the paper substantially.1355 cited
  • 1988An investigation of cost differences between public sales and private placements of debt267 cited
  • 1998Information Asymmetry, Monitoring, and the Placement Structure of Corporate Debt224 cited

Only edges whose both ends are imported exist here. Widen the year window, or show the whole map. Back to the work

  • 2000Speed of issuance and the adequacy of disclosure in the 144A high-yield debt market168 cited
  • 1986Issuing costs to existing shareholders in competitive and negotiated underwritten public utility equity offerings126 cited
  • n.d.Business Cycles, Indicators, and Forecasting120 cited
  • 1988The Eurobond market and corporate financial policy114 cited
  • Cited by

    • 2013Signaling Organizational Virtue: an Examination of Virtue Rhetoric, Country‐Level Corruption, and Performance of Foreign IPOs from Emerging and Developed Economies108 cited
    • 2010The corporate choice between public debt, bank loans, traditional private debt placements, and 144A debt issues68 cited
    • 2017Liability of foreignness in capital markets: Institutional distance and the cost of debt68 cited
    • 2016How Firms Borrow in International Bond Markets: Securities Regulation and Market Segmentation67 cited
    • 2007Foreign currency-denominated borrowing in the absence of operating incentives☆66 cited
    • 2006Stock and Bond Liquidity and its Effect on Prices and Financial Policies63 cited
    • 2010Speed of Issuance, Lender Specialization, and the Rise of the 144A Debt Market59 cited
    • 2005Security Fungibility and the Cost of Capital: Evidence from Global Bonds53 cited
    • 2001The Effect of Capital Structure When Expected Agency Costs are Extreme53 cited
    • 2017Equity cross-listings in the U.S. and the price of debt51 cited
    • 2014The JOBS Act and the Costs of Going Public44 cited
    • 2008Interest rate changes and the timing of debt issues39 cited
    • 2011The Sarbanes-Oxley Act and the Choice of Bond Market by Foreign Firms38 cited
    • 2013Credit rating initiation and accounting quality for emerging-market firms37 cited
    • 2010Transparency, Liquidity, and Valuation: International Evidence35 cited
    • 2012Do Investment Banks' Relationships with Investors Impact Pricing? The Case of Convertible Bond Issues34 cited