Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 麦建理教授 (金融学系) |
全文
| 数位物件识别号 (DOI) http://dx.doi.org/10.1080/135048501750041196 |
引用次数
Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/1WOS source URL
其它资讯
摘要In a fair/efficient market, the ex-adjustment in a rights offering should ensure that trading strategies around this date yield zero returns on average (after netting out market movements and transaction costs). This adjustment is assessed in this paper for one particular market - Hong Kong - which, a priori, offers a clearer picture of ex-adjustments given the general absence of market frictions (notably income and capital gains on locally-consummated share transactions). The analysis generally confirms an efficient adjustment process and also shows that perturbations from this correlate positively with the proportionate increase in the nominal share capital of the issuer, stemming from the rights issue.
着者McGuinness P
期刊名称APPLIED ECONOMICS LETTERS
出版年份200http://aims.cuhk.edu.hk/converis/portal/Publication/1
月份http://aims.cuhk.edu.hk/converis/portal/Publication/1
日期http://aims.cuhk.edu.hk/converis/portal/Publication/1
卷号8
期次http://aims.cuhk.edu.hk/converis/portal/Publication/1
出版社ROUTLEDGE
页次5 - 7
国际标準期刊号http://aims.cuhk.edu.hk/converis/portal/Publication/1350-485http://aims.cuhk.edu.hk/converis/portal/Publication/1
电子国际标準期刊号http://aims.cuhk.edu.hk/converis/portal/Publication/1466-429http://aims.cuhk.edu.hk/converis/portal/Publication/1
语言英式英语
Web of Science 学科类别Business & Economics; Economics; ECONOMICS
