Shareholder participation in valuable domestic rights offerings averages only 64%, which is
considerably lower than previously asserted. This causes wealth transfers from …

Packaged private placements (PPP) in Australia allow all eligible shareholders to purchase
shares at the same price as offered to institutions in the private placement component of the …

This study examines stock market reaction to the announcement of various forms of
seasoned issues in China. Our empirical evidence demonstrates that market reactions differ …

We study right offerings around the world, using a sample of 8,238 rights offers announced
during 1995-2008 in 69 countries. Although shareholders prefer having the option to trade …

We investigate rights issues and open offers in Hong Kong. We observe that the greater the
severity of firms' management‐agency problems, the more unfavourably shareholders tend …

When companies raise equity finance they have to make two choices: the issuing method
(cash versus rights) and, when they choose the rights issue method, whether rights should …

Using daily ownership data, this study documents median participation rates for retail and
institutional shareholders in rights offers in Australia of 60% and 94%, respectively. At the …

This study investigates the shareholder participation and wealth transfers associated with
Hong Kong (HK) open offers. Compared with the results in the US where rights offerings are …

Shareholder participation in domestic rights offerings averages only 64%, which is
considerably lower than previously thought. This causes wealth transfers from …

We use data from financial advisers' professional exam scores and other variables to build
an index of financial sophistication. A one standard deviation reduction in sophistication …