The Transfer Announcement Of Firms From The Second Board To The Main Board Of KLSE ; The Impact On Stock Price And Trading Volume
| dc.contributor.author | Hj Md Nor, Zarina | |
| dc.date.accessioned | 2016-10-24T04:01:08Z | |
| dc.date.available | 2016-10-24T04:01:08Z | |
| dc.date.issued | 2003-05 | |
| dc.description.abstract | This study seeks to evaluate the impact of transfer listing announcements of the cOlllp~lnics in the Second Board to the Main Board of KLSE upon the stock price and trading \·olume. The widely believed theory is that the Main Board firms are more exposed to analyst scrutiny, more glamour that attract more institutional investors, which in tum \\'ill increase the liquidity of the firms' stocks. The issue that this study is trying to il1\cstigatc is whether these assumptions are true in the Malaysian capital market. We try to c\'aluate whether the infonllation content regarding this particular announcement has signi !"ieant \'alue to the local market participants. The reactions of the investors are ... !-J important in this study in order to assess the price 1110\'ement following the transfer announcement. In other \\'ords, this study is testing the semi-strong market efficiency of KLSE in respect to the transfer listing announcements. Three hypotheses are generated in this study which meant to determine (I) whether there are significant abnormal retUnlS i l1e ur i 11 rc iali\'c to thc trans fer announcement. (2) whether the average trading \'olullles arc higher after the announcement date during the e\'ent windo\'v". and (3) whether the ,l\"cragc trading volumes are higher after the event windo\v when fimls are listed on the \lain Board of KLSE. In order to fulfill all the curiosities above, an event study is conducted. whereby a period of 90 days before and 90 days after the transfer announcement date is chosen as the event window. The well-known Market Model is lIsed to generate the abnonl1al returns which are the basis for this study. The excess retUnls of 55 companies in the sample are examined and tested to determine its level of signi ficance. | en_US |
| dc.identifier.uri | http://hdl.handle.net/123456789/2827 | |
| dc.subject | Business Administration | en_US |
| dc.subject | The Transfer Announcement | en_US |
| dc.title | The Transfer Announcement Of Firms From The Second Board To The Main Board Of KLSE ; The Impact On Stock Price And Trading Volume | en_US |
| dc.type | Thesis | en_US |
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