What Does the Market Learn from Stock Offering Revisions?
| Data(s) |
1998
|
|---|---|
| Resumo |
We examine the disclosure of size revisions of seasoned stock offerings to see what information revisions impart to investros. Revisions could deliver firm-originated infoirmation, which discloses something managers know about the firm. Alternatively, they could disseminate market-originated information, which is information market participants have but which is not conveyed until trading takes place. Our results reject the notion that revisions reveal firm-originated news. Instead, the results are consistent with the market-originated news hypothesis and suggest a mechanism that investros and underwriters use to learn about the demand for an offering. |
| Formato |
application/pdf |
| Identificador |
Galloway, Tina; Loderer, Claudio; Sheehan, Dennis P. (1998). What Does the Market Learn from Stock Offering Revisions? Financial Management, 27(1), pp. 5-16. Wiley doi:10.7892/boris.39515 urn:issn:0046-3892 |
| Idioma(s) |
eng |
| Publicador |
Wiley |
| Relação |
http://boris.unibe.ch/39515/ |
| Direitos |
info:eu-repo/semantics/restrictedAccess |
| Fonte |
Galloway, Tina; Loderer, Claudio; Sheehan, Dennis P. (1998). What Does the Market Learn from Stock Offering Revisions? Financial Management, 27(1), pp. 5-16. Wiley |
| Palavras-Chave | #330 Economics |
| Tipo |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion PeerReviewed |
