The Effects of High-Tech Companies' Strategic Alliance Announcements on the Stock Prices of the Relevant Companies: A Comparative Analysis of Indirect Benefits for Taiwan's High-Tech Industry Versus Other Industries 1998–2002

2005 ◽  
Vol 08 (02) ◽  
pp. 235-250
Author(s):  
Chiung-Ju Liang ◽  
Ming-Li Yao ◽  
Jung-Chu Lin
Keyword(s):  
Strategic Alliances ◽  
Stock Prices ◽  
Stock Price ◽  
Strategic Alliance ◽  
High Tech ◽  
High Tech Industry ◽  
Indirect Benefits ◽  
Common Trend ◽  
The World ◽  
Indirect Impact

In recent years, the formation of strategic alliances has become an increasingly common trend among developing countries around the world. In spite of this, the numerous attempts to comprehensively review the research on the correlation between these strategic alliances and stock prices over the years have, by and large, limited their discussion to how the stock price of a corporation responds to its announcement that it is forming a strategic alliance. Only a few studies have, however, discussed the announcement's indirect impact on the stock prices of investing companies that have entered into such strategic alliances. It is for this reason that we conduct an event study and develop an empirical model to measure that indirect impact on the stock prices of investing companies engaging in strategic alliances with Taiwan's high-tech industry from 1998 to 2002, while also discussing the market's different responses in their stock prices according to various industrial types that have been used to classify these investing companies.

The Share Price Responses and Determinants of Strategic Alliances in Taiwan's High-Tech Industry: A Quantile Regression Approach

2004 ◽  
Vol 07 (03) ◽  
pp. 355-378 ◽  
Author(s):  
Ya-Hui Wang ◽  
Chien-Tai Wu
Keyword(s):  
Quantile Regression ◽  
Strategic Alliances ◽  
Strategic Alliance ◽  
Abnormal Returns ◽  
Estimation Procedure ◽  
Share Price ◽  
High Tech ◽  
High Tech Industry ◽  
Quantile Regression Model ◽  
Alliance Partners

This article investigates share price responses to strategic alliances in Taiwan's high-tech industry from 1996 to 1999. We analyze the determinants of abnormal returns caused by strategic alliances using a quantile regression estimation procedure. Our empirical findings show that the wealth effect for a strategic alliance is positive, with no evidence of a wealth transfer between alliance partners. In addition, intra-industry alliances show significantly higher abnormal returns than inter-industry alliances. The horizontal and vertical alliances both have significantly positive abnormal returns, but the positive effect of vertical alliances primarily comes from downstream buyers. On the other hand, results from a quantile regression model show that the P/B ratio, director and supervisor shareholding ratios, and R&D ratio are important determinants of abnormal returns of strategic alliance announcements. Our empirical findings are consistent with the argument that the organizational flexibility offered by alliances is valuable to the high-tech industry which needs to cope with a fast-changing environment.

scholarly journals The Corona Pandemic On Sharia Capital Market in Indonesia

2021 ◽  
Vol 10 (2) ◽  
Author(s):  
Muhammad Al Faridho
Keyword(s):  
Capital Market ◽  
Stock Prices ◽  
Stock Price ◽  
Corona Virus ◽  
The World

In 2020, the world faced the corona virus pandemic, which can threaten the economy aspect of every country. There are many countries end up experiencing recession, including Indonesia. This study tries to test the effect of the corona pandemic on the Jakarta Islamic Index (JII) stock price, simultaneously and partially. The result shows the stock prices that are included in the Jakarta Islamic Index (JII), simultaneously for three quarters, significantly affected by the corona pandemic. Partially, not all issuers are affected by this pandemic. It can be seen that the issuers affected in the Q1 range are ADRO, INCO, SCMA, UNVR, in the Q2 are ADRO, ASII, BTPS, ERAA, ICBP, INDF, INTP, MDKA, MNCN, PTBA, SCMA, SMGR and UNVR, while in the Q3 are ANTM, ERAA, MDKA, PGAS, TPIA.

scholarly journals Bankruptcy Prediction And Its Effect On Stock Prices As Impact Of The COVID-19 Pandemic

2021 ◽  
Vol 25 ◽  
pp. 567-582
Author(s):  
Muhammad Ramadhani Kesuma ◽  
Felisitas Defung ◽  
Anisa Kusumawardani
Keyword(s):  
Prediction Model ◽  
Strong Evidence ◽  
Stock Prices ◽  
Stock Price ◽  
Prediction Models ◽  
Bankruptcy Prediction ◽  
Business Sector ◽  
The World ◽  
Hotel Sector

As COVID-19 pandemic hit the world since early 2020, one business sector in many countries that struggling to survive is tourism and its derivatives, such as restaurants and hotels.  This study aims to examine the accuracy of the Springate and Grover models in predicting bankruptcy, as well as the effect on stock prices of tourism, restaurant, and hotel sector in Indonesia. The results show that all sample tourism, restaurant, and hotel companies are bankrupt under the Springate model, whilst according to Grover's model the findings are varied during the study period. Furthermore, the Grover model is implied to be more accurate than the Springate model. The effect of both prediction models on stock price appears dissimilar. Springate's prediction model suggests a positive and significant effect on stock prices, whereas there is no strong evidence about the effect of Grover’s prediction model.

scholarly journals Trends of industry-leading biotechnology stocks during COVID-19

2021 ◽  
Vol 10 (3) ◽  
Author(s):  
Navia Zhang ◽  
Meredith Haskins
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Blood Clotting ◽  
New Technologies ◽  
Share Prices ◽  
The World ◽  
Biotechnology Companies ◽  
Pandemic Vaccine ◽  
Biotechnology Sector ◽  
Roll Out

The 2019-nCoV coronavirus has significantly impacted the macroeconomic outlook for countries across the world. The biotechnology sector experienced a relatively positive stock price outlook, which corroborates the trends exhibited by biotechnology stocks in previous pandemics such as SARS (2003) and AH1N1 (2009). During the COVID-19 pandemic, vaccine roll-out rates have been more efficient than in any other pandemic, as companies today are more experienced in combating the time constraint to create vaccines. Gilead Sciences Inc. saw its shares rise 18% after developing the first FDA-approved COVID-19 vaccine, 'remdesivir'. In contrast, AstraZeneca's shares fell 2.28% in 2021 after its vaccine underwent investigations into blood-clotting side effects and subsequent suspension from several countries. Companies developing mRNA vaccines like Moderna, BioNTech, and Pfizer witnessed surges in share prices ranging from 10% to 20%. Many newer biotech companies such as Genexie, Sanovi, OnoSec, and Vaxart have also developed vaccines for COVID-19. Share prices are more volatile for these less established companies. This paper observes how developing new technologies, staging clinical trials, obtaining FDA approvals, gaining publicity, and several other complex factors have profound impacts on the stock prices of these biotechnology companies.

Alpes françaises du nord. Régional et moderne «en même temps» / Northern French Alps. Regional and modern «at the same time»

ARCHALP ◽  
2018 ◽  
pp. 44-53
Author(s):  
Arnaud Dutheil
Keyword(s):  
Cultural Identity ◽  
High Tech ◽  
International Mobility ◽  
Architectural Heritage ◽  
High Tech Industry ◽  
Architectural Production ◽  
Critical Regionalism ◽  
The World ◽  
Northern Alps ◽  
Stimulation Of

The triple stimulation of geography (lakes and mountains), environmental problems and border influences could justify the claim of a regional architecture in the Northern Alps. Especially since the production is significant, driven by economic dynamics. But the question posed by critical regionalism is that of an architecture of resistance. There is no architecture in the Savoie countries that can be said to be regionalist according to this formulation opposing the local to the universal. And yet, there is a form of non-conceptualized resistance: because of the place, the climate, the architectural heritage, including the twentieth century. Indeed by its specific programs, the mountain has been a place for architectural and technical experiences. Today these buildings are markers of the territory fully participating in alpine identity. For the inhabitants, a particular cultural identity is built around the myth of mountain life updated. It is constituted around the outdoor, a high-tech industry, an international mobility (Geneva airport), an exceptional biodiversity… This idealization of the mountain has been in resistance to the dominant discourse carried by a declining company. Contemporary architectural production is claimed by the new populations as a way of living the mountain, connected to the world but differentiating them from the inhabitants of the “plain”. What has been implemented architecturally is very in tune with the current political discourse of “at the same time”: industry and nature, comfort and sobriety, technicality and tradition, universal and local. So even the modern break is being digested as an assumed alpine marker – at the same time –.

THE ROLE OF INNOVATIONS IN TOURISM AFTER THE RESTART OF THE WORLD ECONOMY

2020 ◽  
Author(s):  
Stefka Hristova ◽  
◽  
Milena Stoyanova ◽  
Keyword(s):  
World Economy ◽  
Local Level ◽  
Tourism Industry ◽  
High Tech ◽  
Human Society ◽  
High Tech Industry ◽  
The World ◽  
Cluster Environment ◽  
Implementation Of Innovations

Nowadays global economic and high-tech development is progressing. Human society is facing a health pandemic that is leading to economic stagnation and financial losses globally. Tourism industry with its accompanying cluster environment is one of the most economically affected. However, the industry that continues to develop and present its achievements and innovations is in the field of information technology. High-tech industry offers resources and services that are unique. In the field of tourist services, the most popular innovations are chatbots and kiosks. The aim of the paper is to present the attitudes of the stakeholders for the implementation of innovations at the local level and the trends after the restart of the world economy.

scholarly journals Start-Up Nation

2017 ◽  
Vol 31 (3) ◽  
pp. 350-388 ◽  
Author(s):  
Steven Fraiberg
Keyword(s):  
Technical Communication ◽  
High Tech ◽  
High Tech Industry ◽  
Methodological Nationalism ◽  
Start Up ◽  
The World ◽  
Per Capita ◽  
Actor Networks ◽  
Coworking Spaces ◽  
Start Ups

This study focuses on start-up entrepreneurs on the move—in coordination with an array of other actors—as they weave and are woven into transnational networks. Central to this study is a shift from activity to mobility systems. Building on technical communication scholarship, the frame integrates actor networks and activity theory knotworks. Disrupting workplace and national container models (methodological nationalism), the analysis is grounded in a study of Israeli start-up entrepreneurs. Dubbed the Start-Up Nation, Israel contains more start-ups per capita than any other country in the world, with its high-tech industry made up of a dense ecosystem of conferences, accelerators, meetups, social media, and coworking spaces. Tracing actants’ trajectories across this social field, the author argues for a conceptualization of entrepreneurs as knotworkers who mobilize genres, modes, languages, and spaces.

scholarly journals The Impact of Share Repurchase on R&D Expenditure: An Empirical Study from High-tech industry

2020 ◽  
Vol 214 ◽  
pp. 02018
Author(s):  
Hongwei Cheng ◽  
Liang Yin ◽  
Xinwei Luo
Keyword(s):  
Stock Price ◽  
High Tech ◽  
Share Repurchases ◽  
Share Repurchase ◽  
Short Term ◽  
High Tech Industry ◽  
The Sustainable Development ◽  
Stock Price Reaction ◽  
Term Performance ◽  
The Impact

After the policy was released in 2018, listed companies increased the frequency and amount of repurchases. Some studies believe that managers will give up long-term investment which is beneficial to the sustainable development of enterprises due to the short-term performance response caused by share repurchases. This paper took the repurchase firms in the high-tech industry from 2008 to 2018 as samples, it is found that the company’s share repurchase promotes R&D expenditure and will not reduce expenditure in R&D for short-term stock price reaction. Furthermore, the heterogeneity study found that in state-owned firms, the company’s share buybacks have a more significant role in promoting R&D expenditure.

scholarly journals The Influence of the World Gold Price, the Dow Jones Islamic Market, and the Composite Stock Price Index on the Jakarta Islamic Index for the 2014 - 2018 period

2021 ◽  
Vol 4 (1) ◽  
pp. 13
Author(s):  
Siti Chaerunisa Prastiani
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Price Index ◽  
Oil And Gas ◽  
Time Series Data ◽  
Research Output ◽  
Gold Price ◽  
Series Data ◽  
The World ◽  
Stock Price Index

This study aims to determine how much influence the variables of the World Gold Price and Stock Prices with proxies: Dow Jones Islamic Market (DJIM) stock prices, and the Composite Stock Price Index (IHSG), on the Jakarta Islamic Index (JII). This study uses a quantitative approach, namely data that is measured in a numerical scale, based on the 2014-2018 Time Series data relating to variables sourced from the Central Statistics Agency, the Indonesia Stock Exchange and the Directorate General of Oil and Gas. This research uses one of the SPSS Series. The variables in this study consist of World Gold Price (X1), Dow Jones Islamic Market (DJIM) (X2), Composite Stock Price Index (IHSG) (X3) against the Jakarta Islamic Index (JII) (Y). The purpose of this research is to know each variable partially or simultaneously from the variable World Gold Price, Dow Jones Islamic Market and the Jakarta Islamic Index. Research Output expected by an Accredited journal

U.S. and China: The world's high-tech industry pre-eminent powers. A comparative analysis of positions

2021 ◽  
Vol 19 (3) ◽  
pp. 400-428
Author(s):  
Irina A. RODIONOVA ◽  
Aleksandra A. UGRYUMOVA
Keyword(s):  
United States ◽  
Comparative Analysis ◽  
Industrial Development ◽  
The United States ◽  
High Tech ◽  
High Tech Industry ◽  
Goods And Services ◽  
The World ◽  
Knowledge Intensive ◽  
World Industry

Subject. This article deals with the issues related to industrialization and spatial realignment of forces in the world industry architecture at the regional and global levels. Objectives. The article aims to describe the processes in the modern manufacturing industry and show the growth of China's share in the global production and export of knowledge-intensive and high-tech industry products in comparison with the indicators of the United States, the previous world industry leader. Methods. For the study, we used a comparative analysis. Results. The article compares the changes in industrial development indicators of the United States and China since the beginning of the 21st century and defines the positions of these countries in the development of knowledge-intensive and high-tech goods and services. Conclusions. China came out on top in the world concerning the export of all groups of high-tech goods and services. It is also the leader in global production and exports of medium- and high-tech products. China is slightly inferior to the United States in the production of high-tech industry products with the most intensive use of engineering development.

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