Bae, Gil S.; Jeong, Jinho; Sun, Huey-Lian; Tang, Alex P. - In: Journal of Financial Research 25 (2002) 3, pp. 337-352
We examine long-run stock returns and operating performance around firms' offerings of common stock, convertible debt, and straight debt from 1985 to 1990. We find that pre-issue abnormal returns are positive and significant for stock issuers, but not for convertible and straight debt issuers....
