Rogier Hanselaar has been a PhD student in Finance at the Rotterdam School of Management since 2013, after completing his master in Quantitative Finance at the Erasmus School of Economics. His research is centered around equity issuances. In his research, he links capital allocation, liquidity and investor behavior with equity issuances. He has presented his work at the Paul Woolley Centre Conference at the University of Technology Sydney.
Essays on capital allocation
In my PhD research, I intend to contribute to the debate on the benefits and
drawbacks of the financial system by investigating to what extent financial markets
perform one of their most important societal functions: allocating capital
to its most productive use. In this research proposal, I introduce a new way to
measure the degree to which stock markets fulfill this function by focusing on
initial public offerings (IPOs) and secondary equity offerings (SEOs), which are
key events at which markets actually determine the flow of capital to firms. I
develop three capital allocation efficiency measures based on the intuition that
firms with better growth prospects should be valued higher and be able to raise
more capital at the IPO and SEO. Furthermore, I discuss the research questions,
the specifics about my approach, and the data that I intend to use.
- Investments, asset pricing, mutual funds, hedge funds, financial risks, performance, commodities, international finance
- Time frame
- 2013 -
R.M. Hanselaar, R.M. Stulz & M.A. van Dijk (2018). Do Firms Issue More Equity When Markets Become More Liquid? Journal of Financial Economics, Accepted.
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