The impact of audit quality in rights offerings : WestminsterResearch

Publication dates
Title	The impact of audit quality in rights offerings
Type	Journal article
Authors	Balachandran, B., Faff, R., Nguyen, L.H.G. and Puwanenthiren, P.
Abstract	Using audit quality as our core focus, we take a fresh look at the tradability and standby status in rights offerings, and the market reaction during the subscription period in the US market. We find that firms with high audit quality are more likely to choose tradable or full standby rights issues. We also find that the subscription period price reaction is positively related to audit quality and negatively related to issue price discount. These results demonstrate an important role played by the choice of auditors in the design of rights offerings, particularly in mitigating the negative price reaction during the subscription period.
Journal	Accounting & Finance
Journal citation	60 (3), pp. 2007-2037
ISSN	0810-5391
Year	2020
Publisher	Wiley
Digital Object Identifier (DOI)	https://doi.org/10.1111/acfi.12429
Published online	28 Dec 2018
Published in print	Sep 2020

Related outputs

Going Global: Evidence from India
Sivaprasad, S., Adami, R., Mathew, S. and Puwanenthiren, P. 2023. Going Global: Evidence from India. International Journal of Banking, Accounting and Finance. 13 (4), pp. 464-486. https://doi.org/10.1504/IJBAAF.2023.10055872

Audit Quality and Seasoned Equity Offerings Methods  
Dang, M., Puwanenthiren, P., Truong, C., Henry, D. and Vo, X.V. 2022. Audit Quality and Seasoned Equity Offerings Methods  . International Review of Financial Analysis. 83 102227. https://doi.org/10.1016/j.irfa.2022.102227

Strategic archetypes, credit ratings, and cost of debt  
Dang, M., Puwanenthiren, P., Jones, E., Nguyen, T.Q., Vo, X.V. and Nadarajah, S. 2022. Strategic archetypes, credit ratings, and cost of debt  . Economic Modelling. 114 105917. https://doi.org/10.1016/j.econmod.2022.105917

Does managerial tone matter for stock liquidity? Evidence from textual disclosures  
Dang, M., Puwanenthiren, P., Henry, D., Mieszko, M. and Toan, N.M. 2022. Does managerial tone matter for stock liquidity? Evidence from textual disclosures  . Finance Research Letters. 48 102917. https://doi.org/10.1016/j.frl.2022.102917

Country uncertainty, power distance, and payment methods in acquisitions
Dang, M., Hoang, Viet Anh, Jones, Edward, Henry, Darren, Le, Phuong Uyen and Puwanenthiren, Premkanth 2022. Country uncertainty, power distance, and payment methods in acquisitions. The European Journal of Finance. 28 (16), pp. 1541-1570. https://doi.org/10.1080/1351847x.2021.1971731

Do family firms pay less for external funding?
Ali, M., Miglani, S., Dang, M., Puwanenthiren, P. and Mieszko, M. 2022. Do family firms pay less for external funding? Australian Journal of Management. 47 (2), pp. 225-250. https://doi.org/10.1177/03128962211018241

Policy uncertainty and seasoned equity offerings methods
Dang, M., Puwanenthiren, P., Thai, H., Mazur, M., Jones, E. and Xuan Vinh, V. 2021. Policy uncertainty and seasoned equity offerings methods. International Review of Financial Analysis. 77 101830. https://doi.org/10.1016/j.irfa.2021.101830

Global Policy Uncertainty and Cross-Border Acquisitions
Dang, M., Nguy, N.V., Mazuren, M., Puwanenthiren, P. and Nguyen, N.T. 2021. Global Policy Uncertainty and Cross-Border Acquisitions. The Quarterly Review of Economics and Finance. 80, pp. 224-235. https://doi.org/10.1016/j.qref.2021.01.020

Does Managerial ability matter for the choice of Seasoned Equity offerings?
Puwanenthiren, P., Dang, M., Henry, D., Puwanenthiren, P. and Al Mamun, M. 2019. Does Managerial ability matter for the choice of Seasoned Equity offerings? North American Journal of Economics and Finance. 47, pp. 442-460. https://doi.org/10.1016/j.najef.2018.06.002

Permalink - https://westminsterresearch.westminster.ac.uk/item/qx729/the-impact-of-audit-quality-in-rights-offerings

The impact of audit quality in rights offerings

Related outputs

Share this

Usage statistics

Export as