Managers often try to forecast dividends because as Brown et al . (2002) suggest, dividends have cash flow implications for investors and are important signalling devices. This study analyses the dividend forecasts in the prospectuses of initial public offerings (IPOs) in Australia over the...

This paper analyses the board composition of Australian initial public offerings (IPOs) over the period 1994 to 1997. The recent management literature identifies a wide range of stakeholders beyond the traditional shareholders. Evan and Freeman, and Jones and Goldberg suggest that the importance...

Purpose – Direct costs of Australian Real Estate Investment Trust (A-REIT) initial public offerings (IPOs) were last reported in the literature using data to 2004. Much has occurred since then. The purpose of this paper is to introduce and include the A-REIT IPOs over the last ten years and...

This paper explores first day returns on infrastructure entity initial public offerings (IPOs) in Australia from 1996 to 2007. The study finds that first day returns, on average, are not significantly different from zero. There is evidence however that suggests higher dividend yields and higher...

We examine the wealth effects of fifty-six Australian Real Estate Investment Trusts (A-REITs) acquirers around the announcement date of a merger and acquisition over the period of 1996 to 2010. Utilising event study methodology we find that bidding A-REITs earn positive and significant...

Over A$22 billion of new equity capital has been raised by way of rights issues by 71 Australian listed property entities (including A-REITs) during 2001 to 2009. While the rights offerings raise important equity capital for the issuers, this study investigates whether investors have profited...

This study investigates the underpricing of 154 infrastructure IPOs in China from 1993 to 2012. It follows infrastructure IPO studies in Australia and India which report average underpricing returns to subscribers of 3.5% and 25.4% respectively. The average underpricing return for Chinese...

Rights issues are a common method for raising additional equity capital by Australian Real Estate Investment Trusts (A-REITs). This study investigates the A-REIT capital raising costs of the renounceable and non-renounceable equity rights issues during 2001 to 2009. Potential influencing factors...

The transfer of information is analysed within two distinct markets in the same country, specifically, the Chinese stock markets. The presence of autocorrelation and cross correlation in the four main stock indices is examined. The results for stock index data find spillovers in both directions...