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Applied Economics Letters Volume 23, 2016 - Issue 12
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Original Articles

Effectiveness of pre-commitments on reducing asymmetrical information in equity issues

J. ParreñoDepartment of Business Administration and Statistics, Industrial Engineering, Technical University of Madrid, Madrid, SpainCorrespondence[email protected]
,
F. RuizDepartment of Business Administration and Statistics, Industrial Engineering, Technical University of Madrid, Madrid, Spain
&
C. CasanuevaDepartment of Finance, ESCP Europe, Madrid, Spain
Pages 863-867 | Published online: 20 Nov 2015

References

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  • Arrondo, R., and S. Gómez-Ansón. 2003. “A Study of Spanish Firms’ Security Issue Decision under Asymmetric Information and Agency Costs.” Applied Financial Economics 13 (10): 771–782. doi:10.1080/09603100210148203.
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  • Eckbo, B. E. 2008. “Equity Issues and the Disappearing Rights Offer Phenomenon.” Journal of Applied Corporate Finance 20 (4): 72–85. doi:10.1111/jacf.2008.20.issue-4.
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  • McLean, D. R., J. Pontiff, and A. Watanabe. 2009. “Share Issuance and Cross-Sectional Returns: International Evidence.” Journal of Financial Economics 94: 1–17. doi:10.1016/j.jfineco.2008.09.009.
  • Muhtaseb, M. R., and G. C. Philippatos. 1991. “Determinants of Stock Price Reaction to Announcements of Equity Financing by US Firms.” Applied Financial Economics 1: 61–69. doi:10.1080/758531061.
  • Myers, S. C., and N. S. Majluf. 1984. “Corporate Financing and Investment Decisions When Firms Have Information That Investors Do Not Have.” Journal of Financial Economics 13: 187–221. doi:10.1016/0304-405X(84)90023-0.
  • Pastor-Llorca, M. J., and J. F. Martı́n-Ugedo. 2004. “Long-Run Performance of Spanish Seasoned Equity Issues with Rights.” International Review of Financial Analysis 13 (2): 191–215. doi:10.1016/j.irfa.2004.02.005.
  • Rakotomavo, M. 2010. “Payout and Asymmetric Information.” Applied Economics Letters 17: 1299–1304. doi:10.1080/00036840902881868.

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