TY  - BOOK
AU  - BALI, Turan G
AU  - CAKISI, Nusret
AU  - FABOZZI, Frank J
TI  - The new issues puzzle: evidence from non-US firms
PY  - 2013///
CY  - New York
PB  - Taylor & Francis
KW  - new issues puzzle
KW  - net share issues
KW  - market capitalization
N2  - For non-US stocks of firms in the G7 countries, we empirically test the new issues puzzle – stocks of firms that issue new equity are, on average, very poor investments relative to various benchmarks – by market capitalization. Only for the United Kingdom do we find evidence for a significantly negative relation between net share issues and expected returns for larger capitalization stocks. There is some evidence for Japanese stocks. For the other four countries, a positive relation between net share issues and expected returns is observed
UR  - https://doi.org/10.1080/13504851.2013.829188
ER  -