Studies on the Timing of Corporate Issues of New Equities

Studies on the timing of corporate issues of new equities suggest that corporations tend to offer:

A) new issues after stock price increases. This behavior is consistent with the weak form of the efficient market hypothesis.
B) new issues after stock price increases. This behavior is inconsistent with the weak form of the efficient market hypothesis.
C) new issues randomly with regard to stock price changes. This behavior is consistent with the weak form of the efficient market hypothesis.
D) new issues randomly with regard to stock price changes. This behavior is inconsistent with the weak form of the efficient market hypothesis.