Testing the importance of financial slack to explain stock price reaction to issues of corporate securities /

Bibliographic Details
Main Author:	Jensen, Marlin Richard Harley, 1958-
Other Authors:	Alderson, Michael J. (degree committee member.), Trennepohl, Gary L. (degree committee member.), Wichern, Dean W. (degree committee member.)
Format:	Thesis Book
Language:	English
Published:	1988.
Subjects:	Capital market > United States. Investments > United States. Stock price forecasting. Capital market. Investments. United States. Major finance. Academic theses
Online Access:	ProQuest, Abstract Link to OAKTrust copy

Description
Abstract:	Recent studies have documented negative stock price reactions to announcements of primary equity offerings. This study investigates whether or not financial slack is a factor that can explain the price response. Spline regression results indicate that announcement day price reduction is significantly and negatively related to financial slack. The results are consistent with the financial slack hypothesis developed in this study and indirectly with the adverse selection model by Myers and Majluf [1984].
Item Description:	Typescript (photocopy). Vita. "Major subject: Finance."
Physical Description:	xiii, 205 leaves : illustrations ; 29 cm
Bibliography:	Includes bibliographical references.