Covitz, Daniel M.; Harrison, Paul - Federal Reserve Board (Board of Governors of the … - 2003
recent empirical investigation. On the other hand, some recent studies of long-run performance
after debt issuance find some …, adverse selection in public debt issuance. Indeed, studies
of short-run equity returns after announcements of public debt … studies (see, for instance,
Goh and Ederington, 1993, or Hand, Holthausen, and Leftwich, 1992) and have been used as
outcome …