Please use this identifier to cite or link to this item: https://une.intersearch.com.au/unejspui/handle/1959.11/1041
Title: Long-Run Operating Performance of Indian Firms Offering Seasoned Equity
Contributor(s): Yarram, SR  (author); Rath, S (author)
Publication Date: 2004
Open Access: Yes
Handle Link: https://hdl.handle.net/1959.11/1041
Abstract: The present study examines the behavior of firms offering seasoned equity duringthe period 1996 to 1999 in India. The long-term operating performance of equityissuers does not support the view that earnings are managed to time the equityofferings. This result contradicts the findings of Rangan (1998) and Teoh et, al(1998). Pre issue period operating performance does not have any impact on thedecision to issue seasoned equity, thus contradicting the view that seasonedofferings are timed to exploit better operating performance. Rather we find thatinformation asymmetry has significant influence on the decision to issue seasonedequity.
Publication Type: Conference Publication
Conference Name: 12th Annual Conference on Pacific Basin Finance, Economics, Accounting and Business, Bangkok, 10-11 August
Conference Details: 12th Annual Conference on Pacific Basin Finance, Economics, Accounting and Business, Bangkok, 10-11 August
Source of Publication: Roads to Sustainable Asian Economic Prosperity: Proceedings of the 12th Annual Conference on Pacific Basin Finance, Economics, Accounting and Business, p. 1-29
Publisher: School of Business UTCC
Place of Publication: Bangkok
Field of Research (FOR): 150201 Finance
Peer Reviewed: Yes
HERDC Category Description: E1 Refereed Scholarly Conference Publication
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Appears in Collections:Conference Publication

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