Kallberg, Jarl; Liu, Crocker H.; Villupuram, Sriram - In: Journal of Corporate Finance 21 (2013) C, pp. 77-86
This study analyzes the reactions of equity holders and bondholders to the announcement of 427 preferred stock issues. We document an average equity announcement effect of −0.65%. This reaction is positively influenced by a number of measures of firm creditworthiness and transparency and is...
