Browsing by Author "Gara, Stepgen"
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An empirical examination of the pricing of seasoned equity offerings: a test of the signalling hypothesis
Karim, Khondkar; Gara, Stepgen; Rutledge, Robert (2000-06)This paper tests the predictions of Signaling Theory against the competing Price Irrelevance Hypothesis (Eckbo and Masulis 1992). Signaling Theory suggests that a security offer's issue price provides a signal of the quality ...