Earticle

초록

영어

This paper empirically investigates the announcement effect of overseas equity related securities issuance by the 336 Korean firms between 1992 and 2001. After we reviewed the performance of overseas securities issuance firms from the existing literature, we collected data from the Korea Stock Exchange. The research was conducted by an event study. Specifically, abnormal returns are calculated by market model with parameters estimated over the 190 trading days before the event period. For each case, average abnormal returns and cumulative average abnormal returns are calculated by using daily stock returns obtained from the KSRI-Stock database. We also analyse the relation between cumulative average abnormal returns and the change of overseas securities issuance restricts, issuing size, growth opportunity by cross sectional regression. The results of this study can be summarized as follows. First, the announcement effect of overseas securities issuance is indistinct. Second, there are no particular differences of the announcement effect among overseas securities issuance firms. Third, issuing size is confirmed as a significant variable explaining cumulative average abnormal returns.

목차

I. 서론
 II. 선행연구
 III. 연구방법
 IV. 실증분석 결과
 V. 결론
 참고문헌
 Abstract

키워드

저자

• 이정도 [ Jeong-Do Lee | 경북대학교 경상대학 경영학부 교수 ] 제1저자
• 안영규 [ Young-Gyu Ahn | 경북대학교 경상대학 경영학부 강사 ] 제2저자
• 강창봉 [ Chang-Bong Kang | 경북대학교 대학원 경영학과 석사과정 ] 제3저자

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  생산성연구: 국제융합학술지 [Productivity Research: An International Interdisciplinary Journal]

• 간기

  격월간

• pISSN

  1225-3553

• 수록기간

  1987~2025

• 등재여부

  KCI 등재

• 십진분류

  KDC 325 DDC 330