CF article McLean, R.D. (2011). Share issuance and cash savings, Journal of Financial Economics
4 important questions on CF article McLean, R.D. (2011). Share issuance and cash savings, Journal of Financial Economics
What is the hypothesis of the article of McLean "Share issuance and cash savings"
What are the main results of the article of McLean "Share issuance and cash savings"?
- Precautionary cash savings have become the primary use of share issuance proceeds
- Precautionary cash savings has not been previously suggested as a motivation for share issuance.
- The results in this paper are inconsistent with market timing theories, which imply a negative relation between share issuance-cash savings and post-issuance stock returns
- Share issuance-cash savings are best explained by precautionary motives and do not share a negative relation with post-issuance stock returns (Rendement na uitgifte)
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What are the main findings of the table?
The question on the page originate from the summary of the following study material:
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- Never study anything twice again
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