Valuation Effects of Insurers' Security Offerings

Journal of Risk and Insurance

Volumn 64, Issue 1, 1997, Pages 115-137

  Akhigbe, Aigbe ^a   Borde, Stephen F ^a   Madura, Jeff ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0346937775     PISSN: 00224367     EISSN: None     Source Type: Journal    
DOI: 10.2307/253914     Document Type: Article

References (29)

1. A. M. Best Company, Inc., 1996, Best's Insurance Reports: Property-Casualty (Oldwick, N.J.: A. M. Best).
2. Asquith, Paul and David W. Mullins, Jr., 1986, Equity Issues and Offering Dilution, Journal of Financial Economics, 15: 61-89.
3. Born, Jeffery A. and James N. Rimbey, 1993, A Test of the Easterbrook Hypothesis Regarding Dividend Payments and Agency Costs, Journal of Financial Research, 16: 251-260.
4. Cornett, M. and Hassan Tehranian, 1994, An Examination of Voluntary Versus Involuntary Security Issuances by Commercial Banks, Journal of Financial Economics, 35: 99-122.
5. Easterbrook, F., 1984, Two Agency-Cost Explanations of Dividends, American Economic Review, 72: 650-658.
6. Eckbo, B. Espen, 1986, Valuation Effects of Corporate Debt Offerings, Journal of Financial Economics, 15: 119-152.
7. Flannery, Mark J., 1986, Asymmetric Information and Risky Debt Maturity Choice, Journal of Finance, 41: 19-38.
8. Jensen, Michael C., 1986, Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers, American Economic Review, 76: 323-329.
9. Karafiath, I., 1988, Using Dummy Variables in the Event Methodology, Financial Review, 23: 351-358.
10. Karafiath, I. and D. E. Spencer, 1991, Statistical Inference in Multiperiod Event Studies, Review of Quantitative Finance and Accounting, 1: 353-371.
11. Keeley Michael C., 1989, The Stock Price Effects of Bank Holding Company Security Issuances, Economic Review, Federal Reserve Bank of San Francisco, Winter: 3-19.
12. Klein, Robert W., 1995, Insurance Regulation in Transition, Journal of Risk and Insurance, 62: 363-404.
13. Kolodny, Richard and Diane Rizzuto Suhler, 1985, Changes in Capital Structure, New Equity Issues, and Scale Effects, Journal of Financial Research, 8: 127-136.
14. Lehmann, E. L., 1975, Nonparametrics: Statistical Methods Based on Ranks (San Francisco: Holden-Day).
15. Macey, Jonathan R. and Geoffrey P. Miller, 1993, Costly Policies: State Regulation and Antitrust Exemption in Insurance Markets (Washington, D.C.: AEI Press).
16. Masulis, Ronald W. and Ashok Korwar, 1986, Seasoned Equity Offerings: An Empirical Investigation, Journal of Financial Economics, 15: 91-118.
17. Mikkelson, Wayne H. and M. Megan Partch, 1985, Stock Price Effects and Costs of Secondary Distributions, Journal of Financial Economics, 14: 165-194.
18. Mikkelson, Wayne H. and M. Megan Partch, 1986, Valuation Effects of Security Offerings and the Issuance Process, Journal of Financial Economics, 15: 31-60.
19. Myers, Stewart C., 1984, Presidential Address: The Capital Structure Puzzle, Journal of Finance, 39: 575-592.
20. Myers Stewart C. and Nicholas S. Majluf, 1984, Corporate Financing and Investment Decisions When Firms Have Information That Investors Do Not Have, Journal of Financial Economics, 13: 187-221.
21. Pettway, Richard H. and Robert C. Radcliffe, 1985, Impacts of New Equity Sales Upon Electric Utility Share Prices, Financial Management, 14: 16-25.
22. Polonchek, John, Myron B. Slovin, and Marie S. Sushka, 1989, Valuation Effects of Commercial Bank Securities Offerings: A Test of the Information Hypothesis, Journal of Banking and Finance, 13: 443-461.
23. Ross, S., 1977, The Determination of Financial Structure. The Incentive-Signalling Approach, Bell Journal of Economics, 8: 23-40.
24. Salinger, M., 1992, Standard Errors in Event Studies, Journal of Financial and Quantitative Analysis, 27: 39-53.
25. Slovin, Myron, Marie E. Sushka, and John A. Polonchek, 1991, The Information Content of Multiple Seasoned Common Stock Offerings by Bank Holding Companies, Journal of Banking and Finance, 15: 633-646.
26. Smith, Clifford W. Jr., 1986, Investment Banking and the Capital Acquisition Process, Journal of Financial Economics, 15: 3-29.
27. Smith, C. and R. Watts, 1992, The Investment Opportunity Set and Corporate Financing, Dividend, and Compensation Policies, Journal of Financial Economics, 32: 263-292.
28. Sommer, David W., 1996, The Impact of Firm Risk on Property-Liability Insurance Prices, Journal of Risk and Insurance, 63: 501-514.
29. Wansley, James W. and Upinder S. Dhillon, 1989, Determinants of Valuation Effects for Security Offerings of Commercial Bank Holding Companies, Journal of Financial Research, 12: 217-234.