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Stock market reaction of private placement announcements on Oslo Stock Exchange

info:eu-repo/semantics/openAccess

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  • Title:
    Stock market reaction of private placement announcements on Oslo Stock Exchange
  • Author: Haugen, Mons ; Caspersen, Aleksander
  • Subjects: Capm ; Event study ; Fama and french 5-factor model ; Multiple regression ; Oslo stock exchange ; Private placement
  • Description: In our study we investigate the stock market reactions following private placement announcements of firms on Oslo Stock Exchange. Further, we investigate whether factors related to firm performance influences the stock market reaction. Our findings show, on average, a negative announcement effect in the stock market, and that firms with higher return on assets have a less negative stock market reaction. In contrast, we find that firms with a higher earnings pr. share display a more negative market reaction. Interestingly, the announcement effect is stronger during 2020 compared to the other years in our sample. Our evidence is consistent with information asymmetry and signalling hypothesis.
  • Publisher: OsloMet – Oslo Metropolitan University
  • Creation Date: 2022
  • Language: English
  • Source: NORA Norwegian Open Research Archives

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