We examine the influence of corporate governance quality on firms' choice between convertible debt, straight debt, and equity. Using a Western European sample of security offerings made between 2000 and 2010, we find that weaker firm-specific and country-specific corporate governance quality...

Traditional SEOs elicit short selling from traders trying to increase offering discounts. Such short selling is more difficult for shelf offerings, as the time between their announcement and issuance tends to be shorter. We predict and find that firms with higher short-selling potential (SSP)...

The long-run performance of 424 UK rights issues during 1991-95 shows that issuers outperform the market and non-issuing peers in the pre-issue period and underperform in the post-issue period. To explain these results, we examine the timing and earnings management hypotheses and show that our...

This study investigates the relation between corporate governance and earnings management around UK rights issues. We examine the effect of board structure, ownership structure, adviser structure, and capital structure on discretionary current accruals — a proxy for earnings management — for...