This paper is a cross-sectional analysis of the relationship between common stock price reactions to announcements of convertible security calls and variables that represent possible determinants of changes in common stockholders' wealth. The variables are measures of the following effects of...

This paper is a cross-sectional analysis of the relationship between common stock price reactions to announcements of convertible security calls and variables that represent possible determinants of changes in common stockholders' wealth. The variables are measures of the following effects of...

This paper is a cross-sectional analysis of the relationship between common stock price reactions to announcements of convertible security calls and variables that represent possible determinants of changes in common stockholders' wealth. The variables are measures of the following effects of...

Conservative financial policies are often criticized as serving the interests of managers rather than the interests of stockholders. We examine the operating performance and other characteristics of firms that for a five-year period held more than one-fourth of their assets in cash and cash...

We examine companies that issue tracking stock or undertake a minority carve-out. These restructurings create equity claims on a business unit yet the parent retains control. Although the average announcement stock price effect is approximately 3%, our evidence implies that these equity...

We investigate the real effects of decisions to undertake an initial public offering of stock in periods of favorable investor sentiment. Specifically, we examine potential effects of favorable investor sentiment on investment expenditures and how effects on investment affect firm operating...