Cover Image

Announcements effect of corporate bond issuance and its determinants

This study aims to investigate the effect of bond issuance announcements and to determine the company characteristics that could influence this effect.The findings reveal positive cumulative average abnormal returns following bond issuances, indicating that the market considers bond offers to be fav...

Full description

Saved in:
Bibliographic Details
Main Authors: Abdullah, Nur Adiana Hiau, Kim, Chin Sze
Format: Article
Language:English
Published: University of Finance and Management in Warsaw & Vizja Press&IT 2013
Subjects:
HG Finance
Online Access:http://repo.uum.edu.my/15422/1/id2253167.pdf
http://repo.uum.edu.my/15422/
http://doi.org/10.5709/ce.1897-9254.70
Tags: Add Tag
No Tags, Be the first to tag this record!
id my.uum.repo.15422
record_format eprints
spelling my.uum.repo.154222016-04-14T06:37:31Z http://repo.uum.edu.my/15422/ Announcements effect of corporate bond issuance and its determinants Abdullah, Nur Adiana Hiau Kim, Chin Sze HG Finance This study aims to investigate the effect of bond issuance announcements and to determine the company characteristics that could influence this effect.The findings reveal positive cumulative average abnormal returns following bond issuances, indicating that the market considers bond offers to be favorable news. Nevertheless, cross-sectional regression analysis shows an insignificant relation of company profitability, growth opportunities, asset tangibility, size, and managerial ownership with cumulative abnormal returns.The results confirm that there is a signaling effect of bond issuance announcements and that this effect is not affected by company characteristics. University of Finance and Management in Warsaw & Vizja Press&IT 2013 Article PeerReviewed application/pdf en http://repo.uum.edu.my/15422/1/id2253167.pdf Abdullah, Nur Adiana Hiau and Kim, Chin Sze (2013) Announcements effect of corporate bond issuance and its determinants. Contemporary Economics, 7 (1). pp. 5-14. ISSN 1897-9254 http://doi.org/10.5709/ce.1897-9254.70 doi:10.5709/ce.1897-9254.70
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutionali Repository
url_provider http://repo.uum.edu.my/
language English
topic HG Finance
spellingShingle HG Finance
Abdullah, Nur Adiana Hiau
Kim, Chin Sze
Announcements effect of corporate bond issuance and its determinants
description This study aims to investigate the effect of bond issuance announcements and to determine the company characteristics that could influence this effect.The findings reveal positive cumulative average abnormal returns following bond issuances, indicating that the market considers bond offers to be favorable news. Nevertheless, cross-sectional regression analysis shows an insignificant relation of company profitability, growth opportunities, asset tangibility, size, and managerial ownership with cumulative abnormal returns.The results confirm that there is a signaling effect of bond issuance announcements and that this effect is not affected by company characteristics.
format Article
author Abdullah, Nur Adiana Hiau
Kim, Chin Sze
author_facet Abdullah, Nur Adiana Hiau
Kim, Chin Sze
author_sort Abdullah, Nur Adiana Hiau
title Announcements effect of corporate bond issuance and its determinants
title_short Announcements effect of corporate bond issuance and its determinants
title_full Announcements effect of corporate bond issuance and its determinants
title_fullStr Announcements effect of corporate bond issuance and its determinants
title_full_unstemmed Announcements effect of corporate bond issuance and its determinants
title_sort announcements effect of corporate bond issuance and its determinants
publisher University of Finance and Management in Warsaw & Vizja Press&IT
publishDate 2013
url http://repo.uum.edu.my/15422/1/id2253167.pdf
http://repo.uum.edu.my/15422/
http://doi.org/10.5709/ce.1897-9254.70
_version_ 1644281713123131392
score 13.211869

Similar Items