Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/76965 
Erscheinungsjahr: 
2001
Schriftenreihe/Nr.: 
Working Paper Series: Finance & Accounting No. 85
Verlag: 
Johann Wolfgang Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften, Frankfurt a. M.
Zusammenfassung: 
Our study provides evidence on the share price reactions to the announcement of equity issues in Germany, where capital market is characterized by institutional features distinct from the U.S. market. German seasoned equity issues yield a positive market reaction which contrasts to the significant negative abnormal returns reported for the U.S. We provide evidence that these results are due to differences in both issuing characteristics and floatation methods, and in the corporate governance and ownership structures of the two countries. Our study explains much of the empirical puzzle of different market reactions to seemingly similar events across financial markets.
Schlagwörter: 
Corporate Governance
Floatation Method
Ownership
Rights Offerings
Seasoned Equity Offerings
JEL: 
G14
G24
G32
G35
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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