Previous studies find that stock price reactions to dividend announcements are positively related to dividend yield, consistent with the dividend-clientele hypothesis. In this paper, we argue that this yield-related clientele effect can be attributed to estimation biases in using preannouncement...

We examine the domestic stock price response to foreign capital issuance by Indian firms. Firms have extensively used foreign equity and convertible foreign debt sources since 1994. The role of foreign investment bankers, size of the issue, firm's growth opportunities, and other factors are...

We examine the domestic stock price response to foreign capital issuance by Indian firms. Firms have extensively used foreign equity and convertible foreign debt sources since 1994. The role of foreign investment bankers, size of the issue, firm's growth opportunities, and other factors are...