KOREAN MUSIC AWARDS AND ABNORMAL STOCK RETURNS
نویسندگان
چکیده
The global success of the K-pop music industry impacts investment climate entertainment in South Korean stock market. One driving factors attracting investors is awards obtained by idols. Hence, this event study investigates whether idols’ receiving creates abnormal returns (ARs) and cumulative (CARs). We collected five-day price data surrounding events from 2018 to 2019 for four companies. Using mean difference tests, we analyzed movements returns. Our results show appearance positive negative ARs dan CARs, indicating that react differently information contained award announcements. This implies a deviance efficient market hypothesis behave irrationally whom decision affects For reason, companies should select when involving their
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ژورنال
عنوان ژورنال: Copernican Journal of Finance & Accounting
سال: 2023
ISSN: ['2300-1240', '2300-3065']
DOI: https://doi.org/10.12775/cjfa.2022.017