An international study of seasoned equity offerings: long term returns, earnings management, liquidity, ownership structure, and financial crisis.

  • Duong, Huu Nhan (Primary Chief Investigator (PCI))
  • Balachandran, Bala (Chief Investigator (CI))
  • Gul, Ferdinand Akthar Khan (Partner Investigator (PI))
  • Theobald, Michael (Partner Investigator (PI))

    Project: Research

    Project Details

    Project Description

    This study examines long term returns, accrual-based and real earnings management, institutional and blockholders ownership, liquidity and speeds of adjustment around the announcements of various seasoned equity offerings (SEOs) methods to provide insights into the impact of renounceability, underwriting status and the issuance to existing shareholders versus outsiders on firm value. By examining various types of SEOs across three markets (Australia, UK and USA) and for the periods pre and around global financial crisis, this study will provide critical insights into the impact of alternative mechanisms for SEOs on liquidity and firm value. This study will have significant implications regarding the current use and regulation of SEOs.
    StatusFinished
    Effective start/end date1/01/1231/12/14

    Funding

    • Australian Research Council (ARC): AUD10,000.00
    • Australian Research Council (ARC): AUD20,000.00