Issuance of warrants in seasoned equity offerings: evidence from rights offerings
Paper
Paper/Presentation Title | Issuance of warrants in seasoned equity offerings: evidence from rights offerings |
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Presentation Type | Paper |
Authors | Balachandran, Balasingham (Author), Kanapathipillai, Sutharson (Author), Krishnamurti, Chandrasekhar (Author), Theobald, Michael (Author) and Velayutham, Eswaran (Author) |
Editors | Balachandran, Balasingham |
Journal or Proceedings Title | Proceedings of the Inaugural Finance and Corporate Governance Conference (FCGC 2010) |
Number of Pages | 39 |
Year | 2010 |
Place of Publication | Melbourne, Australia |
Web Address (URL) of Paper | http://ssrn.com/abstract=1645008 |
Conference/Event | Inaugural Finance and Corporate Governance Conference (FCGC 2010) |
Event Details | Inaugural Finance and Corporate Governance Conference (FCGC 2010) Parent Finance and Corporate Governance Conference Event Date 07 to end of 09 Apr 2010 Event Location Melbourne, Australia |
Abstract | The Australian financial market is unique in enabling firms to raise new capital via right offerings of standalone warrants in seasoned equity offerings. As such, it provides an ideal environment for examining the validity of the Chemmanur and Fulghieri's (1997) signaling model for warrant inclusion in seasoned equity offerings via rights offerings by analyzing across unit offerings, standalone warrants and standalone equity. We provide empirical evidence in support of their model's predictions regarding |
Keywords | issuance choice; rights offerings; unit offerings; standalone warrants; equity offerings; agency cost hypothesis; signaling theory; Australia |
ANZSRC Field of Research 2020 | 350208. Investment and risk management |
350204. Financial institutions (incl. banking) | |
480602. Equity and trusts law | |
Public Notes | Copyright La Trobe University. |
Byline Affiliations | La Trobe University |
Deakin University | |
School of Accounting, Economics and Finance | |
Institution of Origin | University of Southern Queensland |
https://research.usq.edu.au/item/q0xvy/issuance-of-warrants-in-seasoned-equity-offerings-evidence-from-rights-offerings
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