Noe, Thomas and Jayaraman, Narayanan (1991) Stock authorizations: A sequential equilibrium analysis. Review of Quantitative Finance and Accounting, 1 (4). pp. 383-398.
We develop a sequential equilibrium model of the common stock authorization process. We provide conditions under which actions that increase the number of slack shares, such as stock authorizations, generate negative announcement effects.
|Keywords:||stock authorization, sequential equilibrium model, slack shares, negative announcement effects|
|Centre:||Faculty of Finance|
|Date Deposited:||17 Nov 2011 17:06|
|Last Modified:||23 Oct 2015 14:06|
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