haku: @indexterm seasons / yhteensä: 10
viite: 8 / 10
| Tekijä: | Higgins, E.J. Howton, S. Howton, S. |
| Otsikko: | An analysis of closed-end fund seasoned equity offerings |
| Lehti: | Journal of Financial Research
2003 : SUMMER, VOL. 26:2, p. 243-257 |
| Asiasana: | Equities Seasons Share prices |
| Kieli: | eng |
| Tiivistelmä: | The stock price reaction to seasoned equity offerings (SEOs) of closed-end funds and the determinants of the issuance decision are examined in this article. It is found that sample funds have negative average announcement-day returns that are less than the returns associated with industrial company SEOs, most likely because funds have fewer information asymmetries. Issuing funds have higher pre-issue returns, higher premiums, lower betas and lower three-year, post-issue returns than nonissuing funds. |
SCIMA