Long, Michael S.; Malitz, Ileen B.; Sefcik, Stephen E. - In: Managerial Finance 18 (1992) 5, pp. 31-61
We provide evidence of stock market performance prior to announcements of the assuance or retirement of securities which is consistent with Myers and Majluf [1984] and Miller and Rock [1985]. Stocks of firms issuing seasoned common equity are significantly over‐valued in the market prior to...
