This study assesses announcement period valuation effects of foreign divestitures and explains why these valuation effects vary among firms. Significant positive valuation effects are observed. The valuation effects of foreign divestitures are positive and are similar in magnitude to those of a...

This study examines the market's reaction to foreign divestitures and explains why reactions vary across firms. A significant positive reaction is observed, which is similar in magniture to that observed for a matched control sample of domestic divestitures. The size of the reaction is...

Given their unique characteristics, insurers that adjust their dividends may create a unique signal. An event study methodology is used to measure the share price response of insurers to dividend increases, and matched control samples of banks and industrial firms are similarly assessed. The...

Valuation effects of insurers' security offerings are examined by measuring the share price response to announcements of impending security issues. Insurers exhibit unique characteristics that can cause the signal emitted by their security offerings to differ from that of other firms. An event...

We examine the impact of initial public offerings (IPOs) on rival firms and find that the valuation effects are insignificant. This insignificant reaction can be explained by offsetting information and competitive effects. Significant positive information effects are associated with IPOs in...