This paper investigates the value consequences of stock splits in a market where institutional characteristics minimize the effects of price realignment and signaling. We find that despite these market conditions, stock splits by Greek firms produce positive price reaction around the...

This study examines shareholder wealth effects and intra-industry signals of consolidation announcements in the European financial sector over the period 2000 to 2006. Results show that announcements generate strong positive valuation effects for targets that become higher in cross-border and...

The abnormal returns associated with the announcements of rights issues is positive in Greece, where there is no active secondary market for rights but where stock ownership is concentrated in the hands of a few shareholders and rights issues are large relative to the existing common equity base.

This study examines the relationship between common stock returns and the subscription price level of equity right offerings in Greece during the period 1981-90. the findings show that the associated stock returns are independent of the issue price. This evidence does not support the view that...