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This paper investigates Seasoned Equity Offering (SEO) cost differences between Europe and the US in the period 1990 to 2011. We find that the direct costs for the US companies are around 40% higher than those for the European companies. Results of this paper are consistent with strategic pricing on the part of investment banks in the US, while the European market is more competitive. However, if the European companies register with the Securities and Exchange Commission in the US, they are also affected by over 25% more in direct costs.
