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Seasoned equity offerings: Evidence...

Shen, Yan.

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Seasoned equity offerings: Evidence from P. R. China.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Seasoned equity offerings: Evidence from P. R. China./
Author:	Shen, Yan.
Description:	54 p.
Notes:	Source: Masters Abstracts International, Volume: 45-03, page: 1258.
Contained By:	Masters Abstracts International45-03.
Subject:	Economics, Finance. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=MR20816
ISBN:	9780494208168

Seasoned equity offerings: Evidence from P. R. China.
Shen, Yan.

Seasoned equity offerings: Evidence from P. R. China. - 54 p.

Source: Masters Abstracts International, Volume: 45-03, page: 1258.

Thesis (M.Sc.)--Concordia University (Canada), 2006.

This thesis examines the announcement effect for seasoned equity offerings in the Chinese stock market. Our sample covers the period of 1993 to 2003 and includes 567 A-share rights issues and 72 public offerings for firms listed on the Shanghai Stock Exchange and Shenzhen Stock Exchange.

ISBN: 9780494208168Subjects--Topical Terms:

626650
Economics, Finance.

Seasoned equity offerings: Evidence from P. R. China.
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020 $a 9780494208168
035 $a (UMI)AAIMR20816
035 $a AAIMR20816
040 $a UMI $c UMI
100 1 $a Shen, Yan. $3 1286250
245 1 0 $a Seasoned equity offerings: Evidence from P. R. China.
300 $a 54 p.
500 $a Source: Masters Abstracts International, Volume: 45-03, page: 1258.
502 $a Thesis (M.Sc.)--Concordia University (Canada), 2006.
520 $a This thesis examines the announcement effect for seasoned equity offerings in the Chinese stock market. Our sample covers the period of 1993 to 2003 and includes 567 A-share rights issues and 72 public offerings for firms listed on the Shanghai Stock Exchange and Shenzhen Stock Exchange.
520 $a We document a statistically significant fall in the value of common stock on the announcement days for both rights issues and public offerings in China, which is consistent in sign with the evidence reported for the U.S., U.K. and France. These negative abnormal returns are primarily explained by certain unique characteristics of the Chinese stock market and its SEOs. Specifically, we find that the announcement effects are positively related to the state-owned share percentage of Chinese listed firms, and that the relatively greater stock price underperformance of public offerings versus rights issues in the Chinese market is due primarily to the higher percentage of state-owned shares and to a lesser extent the relative issue size limit imposed on rights issues. Hence, we suggest that the Chinese regulatory authority remove the issue size limit imposed on rights issues.
590 $a School code: 0228.
650 4 $a Economics, Finance. $3 626650
690 $a 0508
710 2 $a Concordia University (Canada). $3 1018569
773 0 $t Masters Abstracts International $g 45-03.
790 $a 0228
791 $a M.Sc.
792 $a 2006
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=MR20816