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This paper examines the excess bond return in a sample of IPO announcements from 1983-2007 for firms with publicly trade debt. The main finding is that IPO announcements create a positive abnormal bond return. This finding is not driven by reverse LBOs, venture backing, spinoffs or by a...
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underpricing at 1% significance level leading us to conclude that SEOs in India are significantly underpriced. Analysis of abnormal … returns for 114 SEOs taking different event windows surrounding issue opening dates reveals that, except for the −1 to + 1 … experience significantly negative abnormal returns surrounding SEO issue opening. Overall, findings of the study reveal that SEOs …
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The largest shareholder of an issuing firm in Hong Kong can be the underwriter for rights offers and open offers. We hypothesize that being an underwriter the largest shareholder who possesses more information is better than investment banks in certifying firm value and we find the evidence to...
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