Stock hyping before auction-style SEOs: Are primary market investors misled?

S Gao, J Liu, Q Zhang, J Zhou - International Review of Economics & …, 2023 - Elsevier
This study investigates the stock price pattern around seasoned equity offerings and the
response of primary market investors to such a price pattern in an environment with weak …

Sunshine-induced mood and SEO pricing: Evidence from detailed investor bids in SEO auctions

Q Sun, X Cheng, S Gao, T Chen, J Liu - Journal of Corporate Finance, 2023 - Elsevier
We examine sunshine-induced mood and its impacts on investors' bidding decisions in the
primary market where seasoned equities are offered. Analyzing a unique database that …