What happens to stock prices when corporate managers announce leverage-increasing transactions such as debt-for-equity exchange offers? What

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What happens to stock prices when corporate managers announce leverage-increasing transactions such as debt-for-equity exchange offers? What happens to stock prices, in response to leverage-decreasing announcements? How do you interpret these findings?
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Introduction to Corporate Finance

ISBN: 978-0324657937

2nd edition

Authors: Scott B. Smart, William L Megginson

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