●1 Introduction
1．1 Literature review
1．2 Characteristics of the institutional environment for equity issues
1．3 Objectives of the dissertation
1．4 Main results and contributions
2 How can managers anticipate future stock overvaluation?
2．1 Introduction
2．2 Literature review
2．3 Sample selection and data
2．4 Stock price reactions to SEO announcements
2．5 Are SEO firms overvalued at the announcement?
2．6 Do managers successfully time the SEO market?
2．7 Summary
3 Market timing of seasoned equity offerings with long regulative process
3．1 Introduction
3．2 Literature review and hypotheses
3．3 Sample selection and data
3．4 Baseline results
3．5 Additional analyses
3．6 Further analyses
3．7 Summary
4 Market timing in private placements of seasoned equity
4．1 Introduction
4．2 The market timing hypothesis of private placements
4．3 Data and variables
4．4 Empirical results
4．5 Robustness check
4．6 Summary
5 Conclusion
Bibliography
Acknowledgements

管理市場時機是一個廣泛的文獻的主題。如果公司經理認為存在(可能感知到的)錯誤估值，而且他們更關心現有股東，那麼他們就有動機利用這種錯誤估值來把握市場時機。管理者的決策取決於錯誤估值的方向。雖然估值過高和散戶投資者的集中與公開發行相關，但估值過低似乎是私募配售的主要動機。然而，這種股票發行的程式化激勵可能受到監管環境的制約。中國股市就是一個例子。與大多數市場時機研究的背景不同，中國的股票發行公司受到監管環境的制約。本書主要研究監管對錯估對股票發行方式和動機的影響。中國獨特的監管環境為發行公司管理層的動機提供了新的經驗啟示。