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The Efficiency of rights on the JSE
Item type: Journal Article • Journal: South African Journal of Accounting Research • Authors: R Alston --- Department of Accounting, E Uliana --- Department of Accounting,As a result of Johannesburg Stock Exchange regulations, the majority of equity issues are by rights issue. The objective of this study is to establish whether the South African market for rights issues is efficient. Using the Black-Scholes model, theoretical...