Announcements Effect of Corporate Bond Issuance and its Determinants
This study aims to investigate the effect of bond issuance announcements and to determine the company characteristics that could influence this effect. The findings reveal positive cumulative average abnormal returns following bond issuances, indicating that the market considers bond offers to be fa...
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| Format: | Article |
| Language: | English |
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University of Finance and Management in Warsaw & Vizja Press&IT
2013
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| Online Access: | http://eprints.intimal.edu.my/69/ http://eprints.intimal.edu.my/69/1/Announcements%20Effect%20of%20Corporate%20Bond%20Issuance%20and%20its%20Determinants.pdf |
| _version_ | 1848766390229532672 |
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| author | Chin, Sze Kim Abdullah, Nur Adiana Hiau |
| author_facet | Chin, Sze Kim Abdullah, Nur Adiana Hiau |
| author_sort | Chin, Sze Kim |
| building | INTI Institutional Repository |
| collection | Online Access |
| description | This study aims to investigate the effect of bond issuance announcements and to determine the company characteristics that could influence this effect. The findings reveal positive cumulative average abnormal returns following bond issuances, indicating that the market considers bond offers to be favorable news. Nevertheless, cross-sectional regression analysis shows an insignificant relation of company profitability, growth opportunities, asset tangibility, size, and managerial ownership with cumulative abnormal returns. The results confirm that there is a signaling effect of bond issuance announcements and that this effect is not affected by company characteristics. |
| first_indexed | 2025-11-14T11:50:23Z |
| format | Article |
| id | intimal-69 |
| institution | INTI International University |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T11:50:23Z |
| publishDate | 2013 |
| publisher | University of Finance and Management in Warsaw & Vizja Press&IT |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | intimal-692016-10-06T05:48:07Z http://eprints.intimal.edu.my/69/ Announcements Effect of Corporate Bond Issuance and its Determinants Chin, Sze Kim Abdullah, Nur Adiana Hiau HB Economic Theory This study aims to investigate the effect of bond issuance announcements and to determine the company characteristics that could influence this effect. The findings reveal positive cumulative average abnormal returns following bond issuances, indicating that the market considers bond offers to be favorable news. Nevertheless, cross-sectional regression analysis shows an insignificant relation of company profitability, growth opportunities, asset tangibility, size, and managerial ownership with cumulative abnormal returns. The results confirm that there is a signaling effect of bond issuance announcements and that this effect is not affected by company characteristics. University of Finance and Management in Warsaw & Vizja Press&IT 2013 Article PeerReviewed text en http://eprints.intimal.edu.my/69/1/Announcements%20Effect%20of%20Corporate%20Bond%20Issuance%20and%20its%20Determinants.pdf Chin, Sze Kim and Abdullah, Nur Adiana Hiau (2013) Announcements Effect of Corporate Bond Issuance and its Determinants. Contemporary Economics, 7 (1). pp. 5-18. ISSN 2084-0845 http://www.ce.vizja.pl/en/issues/volume/7/issue/1 10.5709/ce.1897-9254.70 |
| spellingShingle | HB Economic Theory Chin, Sze Kim Abdullah, Nur Adiana Hiau Announcements Effect of Corporate Bond Issuance and its Determinants |
| title | Announcements Effect of Corporate Bond Issuance and its Determinants |
| title_full | Announcements Effect of Corporate Bond Issuance and its Determinants |
| title_fullStr | Announcements Effect of Corporate Bond Issuance and its Determinants |
| title_full_unstemmed | Announcements Effect of Corporate Bond Issuance and its Determinants |
| title_short | Announcements Effect of Corporate Bond Issuance and its Determinants |
| title_sort | announcements effect of corporate bond issuance and its determinants |
| topic | HB Economic Theory |
| url | http://eprints.intimal.edu.my/69/ http://eprints.intimal.edu.my/69/ http://eprints.intimal.edu.my/69/ http://eprints.intimal.edu.my/69/1/Announcements%20Effect%20of%20Corporate%20Bond%20Issuance%20and%20its%20Determinants.pdf |