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Studying the Relation Between Earnings Quality and Market Reaction to Raising Equity Capital From Stockholders Funds and Receivables

Barʹrasīʹhā-yi ḥisābdārī va ḥisābrasī (Online), 2008-05, Vol.15 (1)

ISSN: 2645-8020 ;EISSN: 2645-8039

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  • Title:
    Studying the Relation Between Earnings Quality and Market Reaction to Raising Equity Capital From Stockholders Funds and Receivables
  • Author: حسین پناهیان ; علی اکبر رمضانی
  • Subjects: Asymmetric information ; Cumulative abnormal returns ; Earnings Quality ; Raising equity capital from stockholders funds and receivables
  • Is Part Of: Barʹrasīʹhā-yi ḥisābdārī va ḥisābrasī (Online), 2008-05, Vol.15 (1)
  • Description: The purpose of this study is investigating the relation between earnings quality and cumulative abnormal returns around the announcement of new equity issues from stockholders funds and receivables. In this study, earnings quality and cumulative abnormal returns has been measured respectively based on modified Jones model (1991) and market model. Also we used variance analysis and regression analysis for testing the relation between earnings quality and cumulative abnormal returns. The result of both test shows that there is no significant relation between earnings quality and market reaction to new equity issue announcement.
  • Publisher: University of Tehran
  • Language: Persian
  • Identifier: ISSN: 2645-8020
    EISSN: 2645-8039
  • Source: Open Access: DOAJ Directory of Open Access Journals

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