Market Reaction to Equity Issues Announcement by Companies in Nigeria

The concern for the immediate and unbiased inclusion of new information into stock prices cannot be overemphasised as far as the operation of stock markets are concerned all over the world. The announcement of corporate events such as equity issue plays a vital role in every stock market. Therefore, the need to understand the response of the market to such announcements and the importance of curtailing the fraudulent manipulation of information by corporate insiders is paramount. Despite that, little or no research attention was given to such reactions in Nigeria. It is against this background therefore, that this book empirically examined stock market reaction to the announcement of equity issues by companies in Nigeria.