We examine the issuance choice across rights issues of equity, unit offerings, and standalone warrants and investigate the market reactions to these issue types. We find that agency costs, growth opportunities, and current funding needs relative to assets in place are prime drivers of the type...

We examine the issuance choice across rights issues of equity, unit offerings and standalone warrants and investigate the market reactions to these issue types. We find that agency costs, growth opportunities and current funding needs relative to assets in place are prime drivers of the type of...

We find that firms with a corporate general counsel in top management (TMC) are less likely to pay dividends, and for such firms that do pay dividends, the dividend payouts are lower. Our results hold addressing both endogeneity concerns and selection biases. We also find that the presence of a...