Evidence of Selling by Managers after Seasoned Equity Offering Announcements

Michael Gombola, Hei Wai Lee () and Feng-Ying Liu

Financial Management, 1997, vol. 26, issue 3

Abstract: Significant insider selling continues after a seasoned equity offering (SEO) is announced. This finding is consistent with earlier studies that equity offerings are undertaken by companies whose stock is overpriced. The study also suggests that the stock of firms that employ SEOs stays overpriced for several months after the offering.

Date: 1997
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