Private Placement of Common Equity and Earnings Expectations

Autor:	Jeremy Goh, Hai Wei Lee, Michael J. Gombola, Feng Ying Liu
Rok vydání:	1999
Předmět:	Earnings response coefficient Economics and Econometrics Equity risk Earnings business.industry Financial economics education Private equity firm Monetary economics Private equity fund Private equity Return on equity Economics business health care economics and organizations Finance Equity capital markets
Zdroj:	The Financial Review. 34:19-32
ISSN:	1540-6288 0732-8516
DOI:	10.1111/j.1540-6288.1999.tb00460.x
Popis:	We examine earnings forecast revisions by analysts subsequent to the announcement of private equity placements. Results show that analysts make significant upward revisions to their forecasts for current-year earnings. Furthermore, these forecast revisions are significantly related to announcement-period abnormal returns, but not to the risk changes accompanying the equity placement. These findings are consistent with the information hypothesis, which suggests that private equity placements convey favorable information about future earnings.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::8af8cb6098f0ac6a8b77841baa34ee6b https://doi.org/10.1111/j.1540-6288.1999.tb00460.x Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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