What Does the Market Learn from Stock Offering Revisions?
This study evaluates the disclosure of size revisions of seasoned stock offerings to determine what information is imparted to investors by the revision announcements. The results suggest not only that the announcements disclosure market- but not the firm-originating information; they also suggest the existence of a mechanism whereby investors and underwriters gauge the demand for an offering.
Year of publication: |
1998
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Authors: | Galloway, Tina M. ; Loderer, Claudio F. ; Sheehan, Dennis P. |
Published in: |
Financial Management. - Financial Management Association - FMA. - Vol. 27.1998, 1
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Publisher: |
Financial Management Association - FMA |
Saved in:
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