Rights offerings in Australia provide valuable choices to the issuer in terms of both underwriting and renounceability. We formulate a set of hypotheses from a quality-signaling perspective, affording an analysis of the key interrelations between quality, underwriting status, renounceability,...

We examine the role of shareholder takeup in rights offerings on the subscription period price reaction and liquidity. Our results indicate that takeup information is reflected in price adjustments over the subscription period and that quality-related information disclosed on the rights...

Australian companies pay dividends semi-annually with smaller “interim” payments and larger “final” payments. Interim dividends are declared and paid within a less full information environment than final dividends. We analyze the interactions between the timing of dividends and their...

UK firms that cut or omit interim dividends during the period 1986-1993 are studied. Price reactions to cuts and omissions were found to be significantly negative and stronger for initial reductions. Future earnings variables were found to be predictable from interim dividend reductions....

Price reactions to interim dividend reductions are empirically analysed. Initial interim dividend reductions lead to a more strongly negative price reaction than for interim dividend reductions following an earlier final dividend reduction. When the subsequent interim dividend reduction is...

Australian companies can choose among three different types of rights offerings: full standby (also known as "fully underwritten"); uninsured (or "non-underwritten"); and partial standby ("partly underwritten"). At the same time, each of these three kinds of rights offerings can be either...

Purpose – The purpose of this paper is to examine the determinants of analysts' operating cash flow forecasts of Australian listed firms and whether or not such forecasts improve the usefulness of earnings and predictive ability of current cash flows. Design/methodology/approach – The...

In this paper, we examine the economic, political, and legal systems as well as the institutional factors that influence the accounting and disclosure practices in Ghana. The impact of International Financial Reporting Standards (IFRS) on disclosure is also investigated, as Ghana has recently...

Purpose – The purpose of this study is to examine whether the level of voluntary disclosure affects firm value in the Chinese capital market. It also investigates whether voluntary disclosure and the values of Chinese firms are influenced by the global financial crisis (GFC)....

Purpose – The purpose of this study is to examine the extent of disclosure harmonization in selected accounting disclosure practices in three South Asian countries, namely, India, Pakistan and Bangladesh. Design/methodology/approach – The study is based on a sample of 566 non-financial...