The study attempts to find out the impact of buyback announcement on share price. Paired sample T-test is employed to compare share price before and after the buyback announcement. The analysis of variance is also used to find out whether there is any significant difference among industries in the price change due to buyback announcement. The study is carried out from 1st January 2005 to 31st D...

This study aimed to investigate the effect of fraction resulted of bad news on stock returns emphasizing the regulatory power of information disclosure policies that for this goal, the study population is consisted of the companies listed on the Tehran Stock Exchange during a five years' period (2010-2014). Data of selected statistical sample using systematic elimination method has been collect...

We estimate abnormal returns on stocks following profit warnings. Our data set is statements described by CNN as profit warnings. We find negative abnormal returns of approximately 5% in the six months following the warning. Over the period six to eighteen months after the warning we find positive abnormal returns of 18%. After eighteen months there is no evidence of significant abnormal return...

In this research, we find statistically significant positive abnormal returns around takeover announcements for combined firms. The cumulative average abnormal returns for combined firms are 4.62% over the event-window [-20, +20], which suggests that takeovers create shareholder wealth (synergy motive). In addition, we examine the impact of ownership structure in target firms on the abnormal re...

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. Usi...

The purpose of this research is to test the efficiency of market with respect to announcements of mergers and acquisitions using an event study methodology. Specifically, this study analyzed the effects of banks mergers and their announcements on the prices of stocks, in Europe. We study 18 deals that involve banks in Merger and Acquisition from year 2001 to 2010 in order to investigate the ret...