國立虎尾科技大學 |

Essays on disclosure, firm value, and financing activity.

紀錄類型:	書目-語言資料,手稿 : Monograph/item
正題名/作者:	Essays on disclosure, firm value, and financing activity./
作者:	Zhang, Ying (Jenny).
面頁冊數:	1 online resource (150 pages)
附註:	Source: Dissertations Abstracts International, Volume: 69-04, Section: A.
Contained By:	Dissertations Abstracts International69-04A.
標題:	Studies. -
電子資源:	click for full text (PQDT)
ISBN:	9780549101710

Essays on disclosure, firm value, and financing activity.
Zhang, Ying (Jenny).

Essays on disclosure, firm value, and financing activity. - 1 online resource (150 pages)

Source: Dissertations Abstracts International, Volume: 69-04, Section: A.

Thesis (Ph.D.)--University of Kansas, 2007.

Includes bibliographical references

This dissertation consists of three essays. Essay one investigates the contracting and financing activities by biopharmaceutical firms which went public during July 1996 to December 2004. With respect to external contracting, a total of 1,969 contracts of various types were signed by these firms since their inception till the end of 2006. In terms of financing via private placement, these firms entered into 200 deals since they went public till December 2006. The capital raised via private placement ($9.5 billion) almost double these firms' IPO amount ($5.5 billion). The external contracting activity seems to affect the financing terms in that higher volume of recent contracts is linked to higher price of sale of stocks. Recent stock performance is also shown to be positively and significantly associated with private equity placement price. Essay two studies the market reaction to FDA fast track designations. For a total of 109 public announcements of such designations made during 1998 to 2004, stock prices on average increase 9% on the day of announcements. Trading volume also increases significantly on announcement day. Other positive reactions include better analyst coverage and higher institutional holdings following the designations. These benefits seem to concentrate on announcing firms that are small, without products on market, and with low prior institutional holdings. Essay three investigates the trading and return around earnings announcement for Chinese A-shares. Stock prices tend to rise before and after earnings announcements, however take a significant drop on announcement day. (Abnormal) Trading activity is significantly higher during the announcement window and directly affects the stock returns.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9780549101710Subjects--Topical Terms:

1437762
Studies.
Subjects--Index Terms:

Biopharmaceutical industryIndex Terms--Genre/Form:

554714
Electronic books.

Essays on disclosure, firm value, and financing activity.
LDR:03165ntm a22004097 4500 001 1148930
005 20240930105257.5
006 m o d
007 cr bn ---uuuuu
008 250605s2007 xx obm 000 0 eng d
020 $a 9780549101710
035 $a (MiAaPQ)AAI3271253
035 $a (MiAaPQ)ku:2136
035 $a AAI3271253
040 $a MiAaPQ $b eng $c MiAaPQ $d NTU
100 1 $a Zhang, Ying (Jenny). $3 1475022
245 1 0 $a Essays on disclosure, firm value, and financing activity.
264 0 $c 2007
300 $a 1 online resource (150 pages)
336 $a text $b txt $2 rdacontent
337 $a computer $b c $2 rdamedia
338 $a online resource $b cr $2 rdacarrier
500 $a Source: Dissertations Abstracts International, Volume: 69-04, Section: A.
500 $a Publisher info.: Dissertation/Thesis.
500 $a Advisor: Koch, Paul D.;Anderson, Christopher W.
502 $a Thesis (Ph.D.)--University of Kansas, 2007.
504 $a Includes bibliographical references
520 $a This dissertation consists of three essays. Essay one investigates the contracting and financing activities by biopharmaceutical firms which went public during July 1996 to December 2004. With respect to external contracting, a total of 1,969 contracts of various types were signed by these firms since their inception till the end of 2006. In terms of financing via private placement, these firms entered into 200 deals since they went public till December 2006. The capital raised via private placement ($9.5 billion) almost double these firms' IPO amount ($5.5 billion). The external contracting activity seems to affect the financing terms in that higher volume of recent contracts is linked to higher price of sale of stocks. Recent stock performance is also shown to be positively and significantly associated with private equity placement price. Essay two studies the market reaction to FDA fast track designations. For a total of 109 public announcements of such designations made during 1998 to 2004, stock prices on average increase 9% on the day of announcements. Trading volume also increases significantly on announcement day. Other positive reactions include better analyst coverage and higher institutional holdings following the designations. These benefits seem to concentrate on announcing firms that are small, without products on market, and with low prior institutional holdings. Essay three investigates the trading and return around earnings announcement for Chinese A-shares. Stock prices tend to rise before and after earnings announcements, however take a significant drop on announcement day. (Abnormal) Trading activity is significantly higher during the announcement window and directly affects the stock returns.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2024
538 $a Mode of access: World Wide Web
650 4 $a Studies. $3 1437762
650 4 $a Financing. $3 1475023
650 4 $a Essays. $3 947995
650 4 $a Finance. $3 559073
653 $a Biopharmaceutical industry
653 $a Disclosure
653 $a Fast track
653 $a Financing
653 $a Firm value
655 7 $a Electronic books. $2 local $3 554714
690 $a 0454
690 $a 0508
710 2 $a University of Kansas. $b Business. $3 1182350
710 2 $a ProQuest Information and Learning Co. $3 1178819
773 0 $t Dissertations Abstracts International $g 69-04A.
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3271253 $z click for full text (PQDT)