Business, Management and Accounting
4 years ago

Rights offerings in frontier markets boost investor recognition and liquidity.

International Journal of Accounting and Business Finance
Investor recognition, liquidity, and post-issue performance following rights offerings: Evidence from a frontier market
Eswaran Velayutham

Paper Summary

The study looked at how rights offerings in Sri Lanka affect investor recognition and liquidity. They found that offering more shares at a lower price helps investors notice the company more. When companies announce rights issues, it makes it easier for investors to trade stocks, leading to better liquidity. Improved liquidity after rights issues is linked to higher stock returns. Overall, rights issues in Sri Lanka impact both investor recognition and liquidity.

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