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New Insights into Rights Offerings as Signals of Firm Quality: Evidence from Australia


  • Balasingham Balachandran
  • Robert Faff
  • Michael Theobald


Australian companies can choose among three different types of rights offerings: full standby (also known as "fully underwritten"); uninsured (or "non-underwritten"); and partial standby ("partly underwritten"). At the same time, each of these three kinds of rights offerings can be either renounceable or non-renounceable, with the former providing securities that can be sold while in the latter case the rights are forfeited if not exercised. Copyright Copyright (c) 2009 Morgan Stanley.

Suggested Citation

  • Balasingham Balachandran & Robert Faff & Michael Theobald, 2009. "New Insights into Rights Offerings as Signals of Firm Quality: Evidence from Australia," Journal of Applied Corporate Finance, Morgan Stanley, vol. 21(3), pages 80-85.
  • Handle: RePEc:bla:jacrfn:v:21:y:2009:i:3:p:80-85

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    Cited by:

    1. Schmid, Stefan & Dauth, Tobias, 2014. "Does internationalization make a difference? Stock market reaction to announcements of international top executive appointments," Journal of World Business, Elsevier, vol. 49(1), pages 63-77.

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