The announcement effect of bond equity issues: evidence from Chile

Author	dc.contributor.author	Castillo, Augusto
Admission date	dc.date.accessioned	2010-10-25T13:32:11Z
Available date	dc.date.available	2010-10-25T13:32:11Z
Publication date	dc.date.issued	2004-12
Cita de ítem	dc.identifier.citation	Estudios de economía. Vol.31 No.2 Diciembre 2004 Pag. 177-205	en_US
Identifier	dc.identifier.uri	https://repositorio.uchile.cl/handle/2250/127776
Abstract	dc.description.abstract	This paper analyzes the impact of security offering announcements on stock prices for a sample of 172 issues of securities in the Chilean financial market, during the 1993-2002 period. We found that the authorization of bond issues given by the SVS (Superintendencia de Valores y Seguros) produced no significant abnormal returns, and that the authorization of equity issues given by the SVS produced a significant and negative abnormal return. We also found that the magnitude of the negative abnormal return was directly related to the relative size of the equity issue.	en_US
Lenguage	dc.language.iso	en	en_US
Publisher	dc.publisher	Universidad de Chile. Facultad de Economía y Negocios	en_US
Keywords	dc.subject	Equity and bond issues	en_US
Título	dc.title	The announcement effect of bond equity issues: evidence from Chile	en_US
Document type	dc.type	Artículo de revista