Corporate name change and shareholder wealth effect: Empirical evidence in the French Stock Market

2011 ◽  
Vol 12 (3) ◽  
pp. 203-213 ◽  
Author(s):  
Bicha Karim
Keyword(s):  
Stock Market ◽  
Empirical Evidence ◽  
Wealth Effect ◽  
Shareholder Wealth ◽  
Name Change ◽  
Corporate Name Change ◽  
Shareholder Wealth Effect

scholarly journals Shareholder wealth effects and corporate name change: Evidence from Malaysia

2004 ◽  
Vol 2 (1) ◽  
pp. 38-49 ◽  
Author(s):  
Yusuf Karbhari ◽  
Zulqarnain Mohamad Sori ◽  
Shamsher Mohamad
Keyword(s):  
Abnormal Returns ◽  
Shareholder Wealth ◽  
Wealth Effects ◽  
Name Change ◽  
Announcement Date ◽  
Corporate Name Change ◽  
Study Methodology ◽  
Shareholder Wealth Effect ◽  
Name Changes ◽  
Event Study Methodology

This study seeks to evaluate the shareholder wealth effect of corporate name change by Malaysian listed companies. Our sample comprises both failed and non-failed Malaysian companies and standard event study methodology is employed. Our results indicate that corporate name changes have no impact on shareholder wealth unless the announcement is accompanied with news of approved corporate restructuring by Malaysian regulatory authorities. In addition, extraordinary abnormal returns were found on the announcement day for the failed companies group whilst, the sub-sample of non-failed companies experienced a significant low negative abnormal return around the announcement date indicating disapproval of cosmetic name changes. Investors in Malaysia are generally cautious about receiving news of a corporate name change. The study also suggests that the market cannot be fooled by mere name change; such a change must be backed by serious efforts towards recovery.

scholarly journals The Wealth Effect of Corporate Water Actions: How Past Corporate Responsibility and Irresponsibility Influence Stock Market Reactions

2021 ◽  
Author(s):  
Rafia Afrin ◽  
Ni Peng ◽  
Frances Bowen
Keyword(s):  
Water Resources ◽  
Stock Market ◽  
Abnormal Returns ◽  
Wealth Effect ◽  
Shareholder Wealth ◽  
Past Performance ◽  
Market Reactions ◽  
Insurance Effect ◽  
Stock Market Reactions ◽  
Marginal Returns

AbstractEnsuring access to clean water is one of the most important development and health challenges of the twenty-first century. Given the manifold impacts of business activities on water resources, corporate water actions should be of central concern to business ethics researchers. Yet so far we know too little about whether business activities that impact on water resources are noticed or how corporate water actions are valued by a firm’s stakeholders, including by financial markets. In response, we conduct an event study to investigate the shareholder wealth effect of reports of corporate water actions. We explore stock market reactions to water actions by S&P 500 firms from 2005 to 2017, showing that the market reacts positively to reports of responsible water actions and negatively to irresponsible actions. We further explain that these abnormal returns to water actions are associated with a firm’s past performance on ethical issues, arguing that the reputational effects from prior corporate social responsibility and irresponsibility influence market reactions. Our analysis provides evidence that there are diminishing marginal returns to responsible water actions for firms with records of past responsibility and an offsetting effect for those with past irresponsibility. Similarly, we demonstrate an insurance effect that limits punishment for irresponsible water actions for firms with responsible performance records and diminishing negative marginal returns for those already seen to be irresponsible. This study is the first to show that shareholders recognize market value in corporate water actions and are prepared to award or punish firms in stock markets based on their impacts on water.

Shareholder Wealth Effects and Corporate Name Change: Evidence from Malaysia

2004 ◽  
Author(s):  
Yusuf Karbhari ◽  
Zulkarnain Muhamad Sori ◽  
Shamsher Mohamad
Keyword(s):  
Shareholder Wealth ◽  
Wealth Effects ◽  
Name Change ◽  
Corporate Name Change

Shareholder wealth effect of M&A in Taiwanese listed firms

2009 ◽  
Vol 30 (1) ◽  
pp. 109-119
Author(s):  
Chin-Tsai Lin ◽  
Yi-Hsien Wang ◽  
Wei-Ling Chen
Keyword(s):  
Wealth Effect ◽  
Shareholder Wealth ◽  
Listed Firms ◽  
Shareholder Wealth Effect

The Effect of Macroeconomic Variables on Stock Prices in Emerging Stock Market : Empirical Evidence From India

2011 ◽  
Vol 4 (6) ◽  
pp. 1-4
Author(s):  
Dr.V.Ramanujam Dr.V.Ramanujam ◽  
◽  
L.Leela L.Leela
Keyword(s):  
Stock Market ◽  
Empirical Evidence ◽  
Stock Prices ◽  
Macroeconomic Variables

Momentum Effect in Stock Market: Empirical Evidence from Pakistan Stock Exchange

2019 ◽  
Vol 12 (1) ◽  
Author(s):  
Shahid Rasheed ◽  
Umar Saood ◽  
Waqar Alam
Keyword(s):  
Stock Market ◽  
Empirical Evidence ◽  
Stock Markets ◽  
Stock Exchange ◽  
Momentum Effect ◽  
Using Data

This study aims to examine the momentum effect presence in selected stocks of Pakistan stock market using data from Jan 2007 to Dec 2016. This study constructed the strategies includes docile, equal weighted and full rebalancing techniques. Data was extracted from the PSX – 100 index ranging from 2007 to 2016. STATA coding ASM software was used for calculating momentum portfolios, finally top 25 stocks were considered as a winner stocks and bottom 25 stocks were taken as a loser stocks. In conclusion, the results of the study found a strong momentum effect in Pakistan stock exchange PSX 100- index. As by results it has been observed that a substantial profit can earn by the investors or brokers in constructing a portfolio with a short formation period of three months and hold for 3, 6 and 12 months. There is hardly a study is present on the same topic on Pakistan Stock Exchange as preceding studies were only conducted on individual stock markets before merger of stock markets in Pakistan while this study leads the explanation of momentum phenomenon in new dimension i.e. Pakistan Stock Exchange. Keywords: Momentum, Portfolio, Winner Stocks, Loser Stocks

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