Comment on 'earnings management around UK open offers'

J. Capstaff, S. Armitage

Research output: Contribution to journalArticle

4 Citations (Scopus)

Abstract

This note discusses the result of Iqbal, A., S. Espenlaub, and N. Strong. 2008. Earnings management around UK open offers. European Journal of Finance, this issue, regarding long-run abnormal returns following open offers and announcement abnormal returns, compared with differing results in two previous studies based on similar samples. A survivorship bias explains some of the differences in the reported long-run abnormal returns. The difference in the announcement abnormal returns could be due to use of different data sources.
LanguageEnglish
Pages53-60
Number of pages7
JournalEuropean Journal of Finance
Volume15
Issue number1
DOIs
Publication statusPublished - Jan 2009

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Abnormal returns
Earnings management
Announcement
Survivorship bias
Finance
Data sources

Keywords

  • seasoned equity offers
  • long-run abmornal returns
  • announcement abmornal returns

Cite this

Capstaff, J. ; Armitage, S. / Comment on 'earnings management around UK open offers'. In: European Journal of Finance. 2009 ; Vol. 15, No. 1. pp. 53-60.
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Comment on 'earnings management around UK open offers'. / Capstaff, J.; Armitage, S.

In: European Journal of Finance, Vol. 15, No. 1, 01.2009, p. 53-60.

Research output: Contribution to journalArticle

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