Market Value Impact of Capital Investment Announcements: Malaysia Case

被引：0

作者：

Lynn ^{[1
]}

Hua, Ling Yew ^{[1
]}

Shaikh, Junaid M. ^{[1
]}

机构：

[1] Curtin Univ Technol, Dept Accounting, Miri, Malaysia

来源：

BUSINESS AND ECONOMICS RESEARCH | 2011年 / 1卷

关键词：

Event-study methodology; stock returns; market model; capital expenditure; generalized sign test; Malaysia Stock Exchange; EXPENDITURE ANNOUNCEMENTS; DECISIONS; OPPORTUNITIES; FLOW;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The aim of this paper is to analyze the stock market reaction to capital expenditure announcements of Malaysia listing firms. With current data set, capital expenditure announcements over the period of 2008 2010 are examined for their impact on stock market. The result suggests sign of information leakage two days before the announcement at 1.68% of mean unadjusted return. When market factors are considered for adjusted returns, the outcome is not consistent with the findings of past literature for developing countries stock exchange. Result reveals that caution is necessary when making inferences on market reaction base on the adjusted returns.

引用

页码：306 / 310

页数：5

共 15 条

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