Comment on 'earnings management around UK open offers'

Seth Armitage and John Capstaff

The European Journal of Finance, 2009, vol. 15, issue 1, 53-60

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.

Keywords: seasoned equity offers; long-run abnormal returns; announcement abnormal returns (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1080/13518470801890735

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