Short term performance of bonus issue announcement on Malaysian public listed firms / Nurshawal Othman

This present study examines the stock price reaction to the information content of bonus issues with a view of examining the Malaysian stock market is semi-strong efficient or not. The period of the study is January 2005 until December 2007 including 85 samples of firms that announcing bonus issue....

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Main Author:	Othman, Nurshawal
Format:	Thesis
Language:	English
Published:	2013
Subjects:	Income Income distribution National income Including gross national product, gross domestic product, and gross state product Issues management
Online Access:	https://ir.uitm.edu.my/id/eprint/33499/1/33499.pdf
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id	my-uitm-ir.33499
record_format	uketd_dc
spelling	my-uitm-ir.334992020-08-12T09:26:06Z Short term performance of bonus issue announcement on Malaysian public listed firms / Nurshawal Othman 2013-12 Othman, Nurshawal Income. Income distribution. National income. Including gross national product, gross domestic product, and gross state product Issues management This present study examines the stock price reaction to the information content of bonus issues with a view of examining the Malaysian stock market is semi-strong efficient or not. The period of the study is January 2005 until December 2007 including 85 samples of firms that announcing bonus issue. The present study used the event study methodology in order to examine the impact of bonus issues announcement on share prices. Results revealed that Average Abnormal Return (AAR) is positive at 0.15%. But, the bonus issue announcements have insignificant impact on share price on announcement day while the result of Cumulative Abnormal Return (CAR) is 22.98% and statistically significant at 1% level. Based on the findings, it shows that there is delay market reaction happened and semi-strong market does not efficient but provides stronger evidence on signaling hypothesis 2013-12 Thesis https://ir.uitm.edu.my/id/eprint/33499/ https://ir.uitm.edu.my/id/eprint/33499/1/33499.pdf text en public degree Universiti Teknologi MARA, Kelantan Faculty of Business and Management Ismail, Dr Md Khairu Amin
institution	Universiti Teknologi MARA
collection	UiTM Institutional Repository
language	English
advisor	Ismail, Dr Md Khairu Amin
topic	Income Income distribution National income Including gross national product, gross domestic product, and gross state product Issues management
spellingShingle	Income Income distribution National income Including gross national product, gross domestic product, and gross state product Issues management Othman, Nurshawal Short term performance of bonus issue announcement on Malaysian public listed firms / Nurshawal Othman
description	This present study examines the stock price reaction to the information content of bonus issues with a view of examining the Malaysian stock market is semi-strong efficient or not. The period of the study is January 2005 until December 2007 including 85 samples of firms that announcing bonus issue. The present study used the event study methodology in order to examine the impact of bonus issues announcement on share prices. Results revealed that Average Abnormal Return (AAR) is positive at 0.15%. But, the bonus issue announcements have insignificant impact on share price on announcement day while the result of Cumulative Abnormal Return (CAR) is 22.98% and statistically significant at 1% level. Based on the findings, it shows that there is delay market reaction happened and semi-strong market does not efficient but provides stronger evidence on signaling hypothesis
format	Thesis
qualification_level	Bachelor degree
author	Othman, Nurshawal
author_facet	Othman, Nurshawal
author_sort	Othman, Nurshawal
title	Short term performance of bonus issue announcement on Malaysian public listed firms / Nurshawal Othman
title_short	Short term performance of bonus issue announcement on Malaysian public listed firms / Nurshawal Othman
title_full	Short term performance of bonus issue announcement on Malaysian public listed firms / Nurshawal Othman
title_fullStr	Short term performance of bonus issue announcement on Malaysian public listed firms / Nurshawal Othman
title_full_unstemmed	Short term performance of bonus issue announcement on Malaysian public listed firms / Nurshawal Othman
title_sort	short term performance of bonus issue announcement on malaysian public listed firms / nurshawal othman
granting_institution	Universiti Teknologi MARA, Kelantan
granting_department	Faculty of Business and Management
publishDate	2013
url	https://ir.uitm.edu.my/id/eprint/33499/1/33499.pdf
_version_	1783734242521382912

Short term performance of bonus issue announcement on Malaysian public listed firms / Nurshawal Othman

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