The money announcement effect
on interest rates has been documented and discussed in many papers.
Just as leakage should be positively related to the level of asymmetric information (as explained earlier), the announcement effect
in response to the management guidance should be positively related to asymmetric information (as explained in the previous paragraph).
Another aspect that can potentially have an impact on the announcement effect
is the type of issue (public offering or private placement).
Additionally, the favorable announcement effect
is stronger for good-governance firms in noncompetitive industries than in competitive industries.
Using a sample of private placements made on the Korean Securities Dealers Automated Quotations (KOSDAQ) from January 2000 to December 2010 and limiting it to only include first Secondary Equity Offerings (SEOs), this study examines the relationship between the announcement effects
of equity private placements and lock-up and/or discount signals sent by distressed firms as well as healthy ones.
There are few studies about the right issue announcement effect
on emerging markets.
Against this background, the study focuses on the internal mechanism of corporate governance and agency theory, while paying particular attention to the announcement effect
of corporate governance failures on stock market prices.
Gupta (2007) provided evidence that there is no announcement effect
associated with stock splits in India though there does exist a pronounced ex- day effect.
The solution proposed by Van Rompuy by changing Protocol 12 could have "an announcement effect
knowing full well that this appeal might be deemed inadmissible by the Court.
Recently, CLR have presented evidence from a six-factor term structure model that indicates that the announcement effect
of the TAF had a very large effect on the LIBOR rate.
The G-7) rather aimed to have an announcement effect
,'' he said, referring to the possible impact on markets, which could discourage investors from betting on the yen one-sidedly.
The studies related to dividends in Malaysia considered did not focus on the announcement effect
of the specially designated dividends, but regular dividends.