Shareholder Wealth Effects of Equity Issues in Emerging Markets: Evidence from Rights Offerings in Greece

Nickolaos V. Tsangarakis

Financial Management, 1996, vol. 25, issue 3

Abstract: The abnormal returns associated with the announcements of rights issues is positive in Greece, where there is no active secondary market for rights but where stock ownership is concentrated in the hands of a few shareholders and rights issues are large relative to the existing common equity base.

Date: 1996
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