Access the full text.
Sign up today, get DeepDyve free for 14 days.
Loading next page...
/lp/wiley/corporate-dividends-and-seasoned-equity-issues-an-empirical-ruWco3fWgu
References (20)
-
Michael Barclay, R. Litzenberger (1988)
Announcement effects of new equity issues and the use of intraday price dataJournal of Financial Economics, 21
-
Robert Korajczyk, R. McDonald, Deborah Lucas (1988)
The Effect of Information Releases on the Pricing and Timing of Equity Issues: Theory and EvidenceERN: Econometric Modeling in Financial Economics (Topic)
-
Clifford Smith (1986)
INVESTMENT BANKING AND THE CAPITAL ACQUISITION PROCESSJournal of Financial Economics, 15
-
Claudio Loderer, D. Sheehan, Gregory Kadlec (1991)
The pricing of equity offeringsJournal of Financial Economics, 29
-
J. Ritter (1991)
The Long-Run Performance of Initial Public OfferingsJournal of Finance, 46
-
Masulis Masulis, Korwar Korwar (1986)
Seasoned equity offerings: An empirical investigationJournal of Financial Economics, 15
-
K. Schipper, Abbie Smith (1986)
A comparison of equity carve-outs and seasoned equity offerings: Share price effects and corporate restructuringJournal of Financial Economics, 15
-
P. Laub (1976)
On the Informational Content of DividendsThe Journal of Business, 49
-
Prem Jain (1992)
Equity Issues and Changes in Expectations of Earnings by Financial AnalystsReview of Financial Studies, 5
-
(1984)
Corporate financing and investment decisions when firms have information that investors do not have -
M. Abramowitz, I. Stegun, D. Mcquarrie (1966)
Handbook of Mathematical Functions.American Mathematical Monthly, 73
-
P. Asquith, D. Mullins (1986)
Equity issues and offering dilutionJournal of Financial Economics, 15
-
J. Aharony, Itzhak Swary (1980)
Quarterly Dividend and Earnings Announcements and Stockholders' Returns: An Empirical AnalysisJournal of Finance, 35
-
W. Mikkelson, M. Partch (1986)
Valuation effects of security offerings and the issuance processJournal of Financial Economics, 15
-
Claudio Loderer, John Cooney, L. Drunen (1991)
The price elasticity of demand for common stockJournal of Finance, 46
-
R. Ambarish, Kose John, Joseph Williams (1987)
Efficient Signalling with Dividends and InvestmentsJournal of Finance, 42
-
Kose John, Joseph Williams (1983)
Dividends, Dilution, and Taxes: A Signalling EquilibriumJournal of Finance, 40
-
Ashok Korwar, Ronald Masulis (1986)
Seasoned Equity Offerings: An Empirical InvestigationCapital Markets: Market Efficiency
-
Healy Healy, Palepu Palepu (1990)
Earnings and risk changes surrounding primary stock offersJournal of Accounting Research, 28
-
Guy Charest (1978)
Dividend information, stock returns and market efficiency-IIJournal of Financial Economics, 6
- Publisher
- Wiley
- Copyright
- 1992 The American Finance Association
- ISSN
- 0022-1082
- eISSN
- 1540-6261
- DOI
- 10.1111/j.1540-6261.1992.tb03983.x
- Publisher site
- See Article on Publisher Site
Abstract
ABSTRACT This paper investigates whether managers rely on dividends to obtain a higher price in a stock offering and whether the stock price reaction to dividend and offering announcements justifies such a coordination. The evidence does not support either conjecture. Issuing firms are not more likely to pay or increase dividends than nonissuing forms. Moreover, there is little evidence that firms time stock offering announcements right after dividend declarations to benefit from the attendant information disclosure. The analysis of dividend and stock offering announcement effects suggests few if any benefits from linking dividend and stock offering announcements.
Journal
The Journal of Finance – Wiley
Published: Mar 1, 1992