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Post-earning announcement drift and value-glamour anomalies in NSE listed firms

Gupta, Pankaj Kumar; Dhusia, Devendra Kumar - In: Trends economics and management 15 (2021) 37, pp. 27-42

Purpose of the article: Of the various market anomalies, the Value-Glamour anomaly and Post-Earnings Announcement Drifts (PEAD) have consistently attracted the attention of researchers. Prior studies have established that the reaction of value stocks and glamour stocks to the earnings...

Persistent link: https://www.econbiz.de/10012606896

Evidence on Changes in Stock Prices and Liquidity Around Rights Issue Announcement : Industry Specific Analysis

Malhotra, Madhuri - 2015

This study examines the effect of rights issue announcement on firms' abnormal returns with respect to Indian firms in chemical, textile, IT and finance sectors respectively. Event study methodology has been used for the purpose of studying the rights issue announcement reaction. Liquidity...

Persistent link: https://www.econbiz.de/10013034151

The Impact of Cost of Equity on Seasoned Equity Offerings

Zhang, Weiqi - 2014

This paper provides an empirical link between the expected cost of equity and firms' Seasoned Equity Offerings activities, using a novel measure of forward-looking cost of equity. There is a negative impact of expected cost equity on SEO likelihood and amount of proceeds, exists on both market...

Persistent link: https://www.econbiz.de/10013063078

Controlling Shareholder Stock Pledge, Aggravated Expropriation and Corporate Acquisitions

Yan, Siyuan - 2020

relations between the share pledge and corporate acquisitiveness and returns are more pronounced for non-SOEs and firms with …

Persistent link: https://www.econbiz.de/10012832661

Corporate transactions in hard-to-value stocks

Ben-David, Itzhak; Kim, Byungwook; Moussawi, Hala; … - 2021

Hard-to-value stocks provide opportunities for managers to exploit their informational advantage through trading on …, coinciding with a general decline in the profitability of stock market anomalies. Our evidence is consistent with managers …

Persistent link: https://www.econbiz.de/10012816430

Incomplete share repurchase programs in Vietnam : completion rates and short-term returns

Kien Cao; Nguyen Thuy Thu; Nguyen Thi Hoa Hong; Hien Bui - In: International Journal of Financial Studies : open … 8 (2020) 3/57, pp. 1-16

Stock repurchases have become a preferred method of distributing cash to stockholders. However, given the high level of information asymmetry and weak corporate governance as well as poor investor protection in Vietnam, many Vietnamese firms use stock repurchases as a tool to manipulate stock...

Persistent link: https://www.econbiz.de/10012291918

Does joining the S&P 500 index hurt firms?

Bennett, Benjamin; Stulz, René M.; Wang, Zexi - 2020

We investigate the impact on firms of joining the S&P 500 index from 1997 to 2017. We find that the positive announcement effect on the stock price of index inclusion has disappeared and the long-run impact of index inclusion has become negative. Inclusion worsens stock price informativeness and...

Persistent link: https://www.econbiz.de/10012263191

Do announcement returns contain information about value creation?

Ben-David, Itzhak; Bhattacharya, Utpal; Jacobsen, Stacey - 2020

Stock returns around acquisition announcements are widely viewed as being reflective of the net present value created by these transactions. As such, announcement returns should correlate with acquisition outcomes. Using a new measure of realized transaction-level acquisition failure, as well as...

Persistent link: https://www.econbiz.de/10012263196

News management around equity private placements

Liang, Hsiao-Chen; Jang, Woan-Yuh - In: Journal of entrepreneurial finance : JEF ; official … 19 (2017) 1, pp. 35-82

. Although private placement is favorable for firms raising capital, it is relatively easy for managers to exploit it to benefit … announcements and study whether managers strategically perform news management. The results show that issuers will engage in news …

Persistent link: https://www.econbiz.de/10011991263

The ups and downs of Wirecard AG : an application of the reversed news model

Stadtmann, Georg; Croonenbroeck, Carsten - 2019

In early 2019, the stock prices of the German company Wirecard AG experienced market turmoil after several critical reports on activities claimed to be illegal. To analyze the market impact of news, we use stock price data for Wirecard AG and apply the reversed news model. We elaborate on...

Persistent link: https://www.econbiz.de/10012108832