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| Author: | Eberhart, A. C. Siddique, A. |
| Title: | The long-term performance of corporate bonds (and stocks) following seasoned equity offerings |
| Journal: | Review of Financial Studies
2002 : WINTER, VOL. 15:5, p. 1385-1406 |
| Index terms: | Bonds Stock markets Equity capital Initial public offerings |
| Language: | eng |
| Abstract: | Previous studies document negative long-term abnormal stock returns following seasoned equity offering issuances and conclude that markets are inefficient. The authors test the efficient market hypothesis and avoid the bad-model problem by examining the long-term performance of our sample firms' bonds and stocks following their SEOs. The results are inconsistentr with the EMH. |
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