For the Asquith and Mullins 1986 Article:

1. Describe the stock offering that the authors use in their analysis: Include the type of firms that issued the offering, how many offering from each type of firm, and the time period on when the offering occurred

2. How do the authors define "offering dilution"? What does it mean if the offering dilution of a given stock offering is between 0% and -100%? On what pages in the paper define and discuss the interpretation of offering dilution?

3. List the four hypotheses for why issuing stock would be associated with a decrease in stock price, and provide a one sentence explanation of each. Note whether it is supported or not supported by the author's analyses.