We investigate the effects on stock prices around the Ex-rights Dates (EDs) of rights offerings by firms listed on the Italian Stock Exchange. We focus on the period from January 2007 to April 2011, whereby several operations have been highly dilutive. Highly dilutive rights offerings show high...

At the end of 1990s, the issuance of option contracts was mostly a privilege of the official option exchange, but around the years 1998-1999 banks started to issue a large number of option-like securities named warrant or, as in Italy, covered warrant. These instruments are expected to have the...