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Can the stock market anticipate future operating performance? Evidence from equity rights issues
Kabir, Kabir, R.; Roosenboom, Roosenboom, P.G.J. - Erasmus Research Institute of Management (ERIM), … - 2002
This paper examines whether the stock market valuation impact is consistent with subsequent operating performance of firms. We use data for equity rights offerings - the widely adopted flotation method in the Netherlands. We first examine the stock market announcement effect of rights issues and...
Persistent link: https://www.econbiz.de/10010731124
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The effects of ownership and stock liquidity on the timing of repurchase transactions
De Cesari, Amedeo; Espenlaub, Susanne; Khurshed, Arif; … - In: Journal of Corporate Finance 18 (2012) 5, pp. 1023-1050
that the profits to companies from timing repurchases are significantly related to ownership structure. Institutional … timing profits and at high levels it reduces them. Stock liquidity increases profits from timing OMRs. …
Persistent link: https://www.econbiz.de/10010588370
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Underwritten dividend reinvestment plans and conflicts of interest
Picha, Nicholas; Foley, Sean; Partington, Graham H.; … - In: Journal of business finance & accounting : JBFA 43 (2016) 9/10, pp. 1361-1384
Persistent link: https://www.econbiz.de/10011643959
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Stock market liquidity and the rights offer paradox.
Koenig, Laure; Ginglinger, Edith; Riva, Fabrice - Université Paris-Dauphine
This paper contributes to the resolution of the rights offer paradox, using a database of French SEOs. We first document higher direct flotation costs, but also improved stock market liquidity after public offerings and standby rights relative to uninsured rights. We find that blockholder...
Persistent link: https://www.econbiz.de/10009370248
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Seasoned equity offerings: Stock market liquidity and the rights offer paradox
Ginglinger, Edith; Koenig-Matsoukis, Laure; Riva, Fabrice - Université Paris-Dauphine (Paris IX) - 2013
This paper examines the impact of market liquidity on seasoned equity offerings (SEO) characteristics in France. We … find that, besides blockholders’ takeup, liquidity is an important determinant of SEO flotation method choice. We document … rights relative to uninsured rights. After controlling for endogeneity in the choice of SEO flotation method, we find that …
Persistent link: https://www.econbiz.de/10010744752
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Stock market liquidity and the rights offer paradox
Riva, Fabrice; Ginglinger, Edith; Koenig-Matsoukis, Laure - Université Paris-Dauphine (Paris IX) - 2009
This paper contributes to the resolution of the rights offer paradox, using a database of French SEOs. We first document higher direct flotation costs, but also improved stock market liquidity after public offerings and standby rights relative to uninsured rights. We find that blockholder...
Persistent link: https://www.econbiz.de/10010706993
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Financial intermediation and the rights offer paradox
Koenig-Matsoukis, Laure - Université Paris-Dauphine (Paris IX) - 2010
In this study, we investigate the trading dynamics around rights issues. We employ signed and unsigned trading activity measures in order to provide evidence of costly financial intermediation. We, first, document short selling activity by underwriters and shareholders during rights issues...
Persistent link: https://www.econbiz.de/10010708694
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Stock market liquidity and the rights offer paradox
Koenig-Matsoukis, Laure; Riva, Fabrice; Ginglinger, Edith - Université Paris-Dauphine (Paris IX) - 2009
This paper contributes to the resolution of the rights offer paradox, using a database of French SEOs. We first document higher direct flotation costs, but also improved stock market liquidity after public offerings and standby rights relative to uninsured rights. We find that blockholder...
Persistent link: https://www.econbiz.de/10010708836
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Stock Market Liquidity and the Rights Offer Paradox
Riva, Fabrice; Ginglinger, Edith; Koenig-Matsoukis, Laure - Université Paris-Dauphine (Paris IX) - 2009
This paper contributes to the resolution of the rights offer paradox, using a database of French SEOs. We first document higher direct flotation costs, but also improved stock market liquidity after public offerings and standby rights relative to uninsured rights. We find that blockholder...
Persistent link: https://www.econbiz.de/10010708917
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Stock market liquidity and the rights offer paradox.
Koenig, Laure; Riva, Fabrice; Ginglinger, Edith - Université Paris-Dauphine
This paper contributes to the resolution of the rights offer paradox, using a database of French SEOs. We first document higher direct flotation costs, but also improved stock market liquidity after public offerings and standby rights relative to uninsured rights. We find that blockholder...
Persistent link: https://www.econbiz.de/10008572211