We examine the role of shareholder takeup in rights offerings on the subscription period price reaction and liquidity. Our results indicate that takeup information is reflected in price adjustments over the subscription period and that quality-related information disclosed on the rights...

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...

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...

Rights offerings in Australia provide valuable choices to the issuer in terms of both underwriting and renounceability. We formulate a set of hypotheses from a quality-signaling perspective, affording an analysis of the key interrelations between quality, underwriting status, renounceability,...