The Impact of Global Equity Offerings  

Oleh:

Chaplinsky, Susan ; Ramchand, Latha

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Journal of Finance (EBSCO) vol. 55 no. 6 (2000), page 2767-2790.
Topik: equity; stock prices; international finance; studies; stock offerings
Fulltext: p 2767.pdf (120.6KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ88.3 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This article examines the impcat of U. S. firms issuing equity in multiple markets. We compare the stock price reactions to announcements of global equity offers to a control group of issues offered exclusively in the domestic U. S. market. All else equal, the adverse price reaction that typically accompanies equity issuance is reduced by 0,8 percent when some shares are sold abroad. The overall evidence suggests global offers are effective in expanding demand and reducing the price pressure effects associated with share issuance. The benefits of global offers appear to be associated with an increased in the number of foreign shareholders,

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