Lee, Pei-Ling; Khong, Roy Wye Leong; Ramasamy, Suganthi - In: Afro-Asian Journal of Finance and Accounting 3 (2013) 3, pp. 274-295
The study empirically analyses the stock price reaction and the determinants of shareholder gains in going private transactions in the Malaysian stock market. A cumulative average excess return of 21.99% is documented for 61-day event period using market adjusted return model. The excess returns...