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Financial Market Dissertations

P/F/494. Dissertation. Share price adjustment to public equity announcements

WORDS:
11000
DATE:
2006
PRICE:
119.99 GBP

The dissertation investigates the adjustment of share prices around the date of the seasoned equity issue announcement. A review of related literature touches on the theories of optimal capital structure, informational asymmetry, price pressure, wealth redistribution, information release, etc. The process of share price adjustment in Japan is discussed. An empirical study is conducted to describe the share price adjustment to the announcement of an equity issue of firms listed on the Johannesburg Stock Exchange during 2000-2005. Conclusions are made about the role of managerial incentives and information in share price adjustment to an announcement of an equity offer.

 

KEYWORDS: Dissertation, share price adjustment, equity announcements, informational asymmetry,