목차
Ⅰ. 서 론
Ⅱ. 문헌연구 및 연구동기
Ⅲ. 표본구성 및 장단기 성과측정방법
1. 증권발행기업의 표본구성
2. 증권발행 이후 장단기 성과측정방법
(1) 공시효과분석을 위한 사건연구방법
(2) 장기성과 측정방법
(3) 대응포트폴리오 구성방법
Ⅳ. 증권발행 이후 장단기성과 분석결과
1. 공시효과 분석결과
2. 전체표본에 대한 장기성과 분석결과
3. 발행기업 특성별 장기성과 분석결과
4. 발행기업 장기성과에 대한 횡단면 회귀분석
Ⅴ. 요약 및 결론
Ⅱ. 문헌연구 및 연구동기
Ⅲ. 표본구성 및 장단기 성과측정방법
1. 증권발행기업의 표본구성
2. 증권발행 이후 장단기 성과측정방법
(1) 공시효과분석을 위한 사건연구방법
(2) 장기성과 측정방법
(3) 대응포트폴리오 구성방법
Ⅳ. 증권발행 이후 장단기성과 분석결과
1. 공시효과 분석결과
2. 전체표본에 대한 장기성과 분석결과
3. 발행기업 특성별 장기성과 분석결과
4. 발행기업 장기성과에 대한 횡단면 회귀분석
Ⅴ. 요약 및 결론
본문내용
Lyon, "Detecting long-run abnormal stock returns: The empirical power and specification of test statistics," Journal of Financial Economics 43(1997), pp. 341-372.
Blume, M., and R. Stambaugh, "Biases in computed returns: An application to the size effect," Journal of Financial Economics 12(1983), pp. 387-404.
Brav, A., C. Geczy, and P. A. Gompers, "The long-run underperformance of seasoned equity offerings revisited," Working Paper(1995), University of Chicago.
, "Is the return of equity issuers anomolous?" Journal of Financial Economics (1999),
Brown, S. and J. Warner, "Using daily stock returns," Journal of Financial Economics 14(1985), pp. 3-31.
Conrad, J., and G. Kaul, "Long-term market overreaction or biases in computed returns?" Journal of Finance 48(1993), pp. 39-63.
Daniel, K., D. Hirshleifer and A. Subrahmanyam, "Investor psychology and security market under- and overreactions," Journal of Finance 53(1998), pp. 1839-1885.
Dann, L. Y. and W. H. Mikkelson, "Convertible debt issuance, capital structure change and financing-related information: Some new evidence," Journal of Financial Economics 13(1984), pp. 157-186.
Eckbo, E. B., "Valuation effects of corporate debt offerings," Journal of Financial Economics 15(1986), pp. 119-152.
Fama, E., "Market efficiency, long-term returns, and behavioral finance," Journal of Financial Economics 49(1998), pp. 283-306
and K. French, "The cross-section of expected stock returns," Journal of Financial Economics 33(1993), pp. 3-55.
Jen, F. C., D. Choi and S. Lee, "Some new evidence on why companies use convertible bonds," Journal of Applied Corporate Finance 12(1997), pp. 44-53.
Kang, J. K., Y. C. Kim and R. M. Stulz, "The underreaction hypothesis and the new issue puzzle: Evidence from Japan," The Review of Financial Studies 12(1997), pp.519-534.
Kang, J. K. and R. M. Stulz, "How different is Japanese corporate finance? An investigation of the information content of new security issues," The Review of Financial Studies 9(1996), pp. 100-139.
Kothari, S. P. and J. B. Warner, "Measuring long-horizon security price performance," Journal of Financial Economics 43(1997), pp. 301-339.
Leland, H. E. and D. Pyle, "Information asymmetries, financial structure, and financial intermediation," Journal of Finance 32 (1977), pp. 371-387.
Loughran, T. and J. R. Ritter, "The new issues puzzle", Journal of Finance 50(1995), pp. 23-51.
, "Uniformly least powerful tests of market efficiency," Journal of Financial Economics 55(2000), pp. 361-389.
Masulis, R. W. and A. N. Korwar, "Seasoned equity offering: Am empirical investigation," Journal of Financial Economics 15(1986), pp. 91-118.
Mikkelson M. H. and M. M. Partch, "Valuation effects of security offerings and the issuance process", Journal of Financial Economics 15(1986), pp. 31-60.
Myers S. C. and N. Majluf, "Corporate financing and investment decisions when firms have information that investors do not have", Journal of Financial Economics 13(1984), pp. 187-221.
Blume, M., and R. Stambaugh, "Biases in computed returns: An application to the size effect," Journal of Financial Economics 12(1983), pp. 387-404.
Brav, A., C. Geczy, and P. A. Gompers, "The long-run underperformance of seasoned equity offerings revisited," Working Paper(1995), University of Chicago.
, "Is the return of equity issuers anomolous?" Journal of Financial Economics (1999),
Brown, S. and J. Warner, "Using daily stock returns," Journal of Financial Economics 14(1985), pp. 3-31.
Conrad, J., and G. Kaul, "Long-term market overreaction or biases in computed returns?" Journal of Finance 48(1993), pp. 39-63.
Daniel, K., D. Hirshleifer and A. Subrahmanyam, "Investor psychology and security market under- and overreactions," Journal of Finance 53(1998), pp. 1839-1885.
Dann, L. Y. and W. H. Mikkelson, "Convertible debt issuance, capital structure change and financing-related information: Some new evidence," Journal of Financial Economics 13(1984), pp. 157-186.
Eckbo, E. B., "Valuation effects of corporate debt offerings," Journal of Financial Economics 15(1986), pp. 119-152.
Fama, E., "Market efficiency, long-term returns, and behavioral finance," Journal of Financial Economics 49(1998), pp. 283-306
and K. French, "The cross-section of expected stock returns," Journal of Financial Economics 33(1993), pp. 3-55.
Jen, F. C., D. Choi and S. Lee, "Some new evidence on why companies use convertible bonds," Journal of Applied Corporate Finance 12(1997), pp. 44-53.
Kang, J. K., Y. C. Kim and R. M. Stulz, "The underreaction hypothesis and the new issue puzzle: Evidence from Japan," The Review of Financial Studies 12(1997), pp.519-534.
Kang, J. K. and R. M. Stulz, "How different is Japanese corporate finance? An investigation of the information content of new security issues," The Review of Financial Studies 9(1996), pp. 100-139.
Kothari, S. P. and J. B. Warner, "Measuring long-horizon security price performance," Journal of Financial Economics 43(1997), pp. 301-339.
Leland, H. E. and D. Pyle, "Information asymmetries, financial structure, and financial intermediation," Journal of Finance 32 (1977), pp. 371-387.
Loughran, T. and J. R. Ritter, "The new issues puzzle", Journal of Finance 50(1995), pp. 23-51.
, "Uniformly least powerful tests of market efficiency," Journal of Financial Economics 55(2000), pp. 361-389.
Masulis, R. W. and A. N. Korwar, "Seasoned equity offering: Am empirical investigation," Journal of Financial Economics 15(1986), pp. 91-118.
Mikkelson M. H. and M. M. Partch, "Valuation effects of security offerings and the issuance process", Journal of Financial Economics 15(1986), pp. 31-60.
Myers S. C. and N. Majluf, "Corporate financing and investment decisions when firms have information that investors do not have", Journal of Financial Economics 13(1984), pp. 187-221.
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