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The impact of surprise offer-share adjustments on offer-day returns: evidence from seasoned equity offers

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Author Info
Hoje Jo ()
Yongtae Kim ()
Myung Park ()
Abstract

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File URL: http://hdl.handle.net/10.1007/s11156-007-0071-6
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Publisher Info
Article provided by Springer in its journal Review of Quantitative Finance and Accounting.

Volume (Year): 31 (2008)
Issue (Month): 3 (October)
Pages: 261-286
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:kap:rqfnac:v:31:y:2008:i:3:p:261-286

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Web page: http://springerlink.metapress.com/link.asp?id=102990

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Related research
Keywords: Seasoned equity offerings; Offer-day return; Eleventh-hour information; G1; G14; G32;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Lease, Ronald C & Masulis, Ronald W & Page, John R, 1991. " An Investigation of Market Microstructure Impacts on Event Study Returns," Journal of Finance, American Finance Association, vol. 46(4), pages 1523-36, September. [Downloadable!] (restricted)
  2. Fama, Eugene F. & French, Kenneth R., 1993. "Common risk factors in the returns on stocks and bonds," Journal of Financial Economics, Elsevier, vol. 33(1), pages 3-56, February. [Downloadable!] (restricted)
  3. Altinkilic, Oya & Hansen, Robert S., 2003. "Discounting and underpricing in seasoned equity offers," Journal of Financial Economics, Elsevier, vol. 69(2), pages 285-323, August. [Downloadable!] (restricted)
  4. Ben Sopranzetti & Emilio Venezian & Xiaoli Wang, 2006. "The Market for New Issues: Impact of Offering Price on Price Support and Underpricing," Review of Quantitative Finance and Accounting, Springer, vol. 26(2), pages 165-176, March. [Downloadable!] (restricted)
  5. Asquith, Paul & Mullins, David Jr., 1986. "Equity issues and offering dilution," Journal of Financial Economics, Elsevier, vol. 15(1-2), pages 61-89. [Downloadable!] (restricted)
  6. Mola, Simona & Loughran, Tim, 2004. "Discounting and Clustering in Seasoned Equity Offering Prices," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 39(01), pages 1-23, March. [Downloadable!]
  7. Jo, Hoje & Kim, Yongtae, 2007. "Disclosure frequency and earnings management," Journal of Financial Economics, Elsevier, vol. 84(2), pages 561-590, May. [Downloadable!] (restricted)
  8. Karim, Khondkar E, et al, 2001. " An Empirical Examination of the Pricing of Seasoned Equity Offerings: A Test of the Signaling Hypothesis," Review of Quantitative Finance and Accounting, Springer, vol. 17(1), pages 63-79, July. [Downloadable!] (restricted)
  9. Kim, Yongtae & Park, Myung Seok, 2005. "Pricing of Seasoned Equity Offers and Earnings Management," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 40(02), pages 435-463, June. [Downloadable!]
  10. Bradley, Daniel J. & Jordan, Bradford D., 2002. "Partial Adjustment to Public Information and IPO Underpricing," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 37(04), pages 595-616, December. [Downloadable!]
  11. Benveniste, Lawrence M. & Spindt, Paul A., 1989. "How investment bankers determine the offer price and allocation of new issues," Journal of Financial Economics, Elsevier, vol. 24(2), pages 343-361. [Downloadable!] (restricted)
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