IPO Market Timing and Capital Structure: Evidences from Brazil

  •  Luiz Felipe Vallandro    
  •  João Zani    
  •  Carlos Eduardo Silva    


This article examines the occurrence of equity market timing through its effects on the capital structure of Brazilian companies that went public between 1997 and 2007. The results show the existence of equity market timing in the Brazilian stock market but its effects are not persistent in the long-run on the capital structure.

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