Our study provides evidence on the share price reactions to the announcement of equity issues in Germany, where capital market is characterized by institutional features distinct from the U.S. market. German seasoned equity issues yield a positive market reaction which contrasts to the...

Our study provides evidence on the share price reactions to the announcement of equity issues inGermany, where capital market is characterized by institutional features distinct from the U.S. market.German seasoned equity issues yield a positive market reaction which contrasts to the significant...

Abstract Kapitalerhöhungen aus Gesellschaftsmitteln (KEGM) werden in der Lehrbuchliteratur zum Teil als reine Buchhaltungsvorgänge ohne reale Bedeutung für die Bewertung einer Aktie charakterisiert. Der Beitrag stellt neue theoretische Ansätze zur Erklärung von Kursreaktionen auf KEGM vor...