Eom, Chanyoung; Kang, Hyoung-Goo; Kim, Soo-Hyun - In: Emerging Markets Finance and Trade 49 (2013) S4, pp. 93-103
Stock issuance predicts future stock returns in the Korean market. This creates profitable trading opportunities. Abnormal returns exist in the zero-cost portfolio that short the firms issuing large numbers of shares and longs those issuing small numbers of shares. Their average abnormal return...