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Market performance on resale of treasury shares

The study examines the announcement effects on resale of treasury shares among publicly listed firms in Malaysia.All firms that resale their treasury shares between 2001 and 2012 are analyzed using standard event methodologies namely market adjusted return (MAR) and market model (MM).We find that r...

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Main Authors: Abdul Latif, Rohaida, Taufil Mohd, Kamarun Nisham, Kamardin, Hasnah
Format: Article
Language:English
Published: Centre for Promoting Ideas 2015
Subjects:
HB Economic Theory
Online Access:http://repo.uum.edu.my/17909/1/IJBSS%206%2012%20147-155.pdf
http://repo.uum.edu.my/17909/
http://ijbssnet.com/journal/index/3379
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spelling my.uum.repo.179092016-04-17T04:12:13Z http://repo.uum.edu.my/17909/ Market performance on resale of treasury shares Abdul Latif, Rohaida Taufil Mohd, Kamarun Nisham Kamardin, Hasnah HB Economic Theory The study examines the announcement effects on resale of treasury shares among publicly listed firms in Malaysia.All firms that resale their treasury shares between 2001 and 2012 are analyzed using standard event methodologies namely market adjusted return (MAR) and market model (MM).We find that resale firms experience significant positive 4% abnormal returns in the 5 days prior to the actual resale of treasury shares.However, there are no abnormal gains realized following the actual resale of treasury shares date, suggesting that the market is semi-strongly efficient where prices can fully reflect all publicly available information. Centre for Promoting Ideas 2015-12 Article PeerReviewed application/pdf en http://repo.uum.edu.my/17909/1/IJBSS%206%2012%20147-155.pdf Abdul Latif, Rohaida and Taufil Mohd, Kamarun Nisham and Kamardin, Hasnah (2015) Market performance on resale of treasury shares. International Journal of Business and Social Science, 6 (12). pp. 147-155. ISSN 2219-1933 http://ijbssnet.com/journal/index/3379
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutionali Repository
url_provider http://repo.uum.edu.my/
language English
topic HB Economic Theory
spellingShingle HB Economic Theory
Abdul Latif, Rohaida
Taufil Mohd, Kamarun Nisham
Kamardin, Hasnah
Market performance on resale of treasury shares
description The study examines the announcement effects on resale of treasury shares among publicly listed firms in Malaysia.All firms that resale their treasury shares between 2001 and 2012 are analyzed using standard event methodologies namely market adjusted return (MAR) and market model (MM).We find that resale firms experience significant positive 4% abnormal returns in the 5 days prior to the actual resale of treasury shares.However, there are no abnormal gains realized following the actual resale of treasury shares date, suggesting that the market is semi-strongly efficient where prices can fully reflect all publicly available information.
format Article
author Abdul Latif, Rohaida
Taufil Mohd, Kamarun Nisham
Kamardin, Hasnah
author_facet Abdul Latif, Rohaida
Taufil Mohd, Kamarun Nisham
Kamardin, Hasnah
author_sort Abdul Latif, Rohaida
title Market performance on resale of treasury shares
title_short Market performance on resale of treasury shares
title_full Market performance on resale of treasury shares
title_fullStr Market performance on resale of treasury shares
title_full_unstemmed Market performance on resale of treasury shares
title_sort market performance on resale of treasury shares
publisher Centre for Promoting Ideas
publishDate 2015
url http://repo.uum.edu.my/17909/1/IJBSS%206%2012%20147-155.pdf
http://repo.uum.edu.my/17909/
http://ijbssnet.com/journal/index/3379
_version_ 1644282332588277760
score 13.211869

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