Long-Run Performance of Redeemable Convertible Unsecured Loan Stocks (RCULS) and Irredeemable Convertible Unsecured Loan Stocks (ICULS)

Long-Run Performance of Redeemable Convertible Unsecured Loan Stocks (RCULS) and Irredeemable Convertible Unsecured Loan Stocks (ICULS)

This study examines the long-run performance of Redeemable Convertible Unsecured Loan Stocks (RCULS) and Irredeemable Convertible Unsecured Loan Stocks (ICULS). Using the monthly data on corporations listed on the Main Board, Bursa Malaysia, that issued the RCULS and ICULS; buy-and-hold abnormal r...

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Main Author: Mohd Abdoh, Wan Mohd Yaseer
Format: Thesis
Language:eng
eng
Published: 2007
Subjects:
HG Finance
Online Access:https://etd.uum.edu.my/16/1/wan_mohd_yaseer.pdf
https://etd.uum.edu.my/16/2/wan_mohd_yaseer-1.pdf
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id my-uum-etd.16
record_format uketd_dc
institution Universiti Utara Malaysia
collection UUM ETD
language eng
eng
topic HG Finance
spellingShingle HG Finance
Mohd Abdoh, Wan Mohd Yaseer
Long-Run Performance of Redeemable Convertible Unsecured Loan Stocks (RCULS) and Irredeemable Convertible Unsecured Loan Stocks (ICULS)
description This study examines the long-run performance of Redeemable Convertible Unsecured Loan Stocks (RCULS) and Irredeemable Convertible Unsecured Loan Stocks (ICULS). Using the monthly data on corporations listed on the Main Board, Bursa Malaysia, that issued the RCULS and ICULS; buy-and-hold abnormal returns (BHAR) and cumulative abnormal returns (CAR) methods are conducted to examine the long - run performance of the two instruments. The findings and analysis of this thesis were made based on the data collected from Bursa Malaysia Bloomberg and Investor's Digest and Datastream. The results indicate that overperformance exists on the issuing firms1 stock returns for all one - year, two - year and three - year periods, regardless whether buy-and-hold abnormal returns (BHAR) or cumulative abnormal returns (CAR) is applied. Although, the results do contra with Gompers and Lemer (2003), Ritter and Welch (2002), Loughran and Ritter (1995) and Loughran (1993). the argument is based on the sample size being used in the study.
format Thesis
qualification_name masters
qualification_level Master's degree
author Mohd Abdoh, Wan Mohd Yaseer
author_facet Mohd Abdoh, Wan Mohd Yaseer
author_sort Mohd Abdoh, Wan Mohd Yaseer
title Long-Run Performance of Redeemable Convertible Unsecured Loan Stocks (RCULS) and Irredeemable Convertible Unsecured Loan Stocks (ICULS)
title_short Long-Run Performance of Redeemable Convertible Unsecured Loan Stocks (RCULS) and Irredeemable Convertible Unsecured Loan Stocks (ICULS)
title_full Long-Run Performance of Redeemable Convertible Unsecured Loan Stocks (RCULS) and Irredeemable Convertible Unsecured Loan Stocks (ICULS)
title_fullStr Long-Run Performance of Redeemable Convertible Unsecured Loan Stocks (RCULS) and Irredeemable Convertible Unsecured Loan Stocks (ICULS)
title_full_unstemmed Long-Run Performance of Redeemable Convertible Unsecured Loan Stocks (RCULS) and Irredeemable Convertible Unsecured Loan Stocks (ICULS)
title_sort long-run performance of redeemable convertible unsecured loan stocks (rculs) and irredeemable convertible unsecured loan stocks (iculs)
granting_institution Universiti Utara Malaysia
granting_department College of Business (COB)
publishDate 2007
url https://etd.uum.edu.my/16/1/wan_mohd_yaseer.pdf
https://etd.uum.edu.my/16/2/wan_mohd_yaseer-1.pdf
_version_ 1747826826793713664
spelling my-uum-etd.162022-06-13T02:58:19Z Long-Run Performance of Redeemable Convertible Unsecured Loan Stocks (RCULS) and Irredeemable Convertible Unsecured Loan Stocks (ICULS) 2007-12 Mohd Abdoh, Wan Mohd Yaseer College of Business (COB) Faculty of Finance and Banking HG Finance This study examines the long-run performance of Redeemable Convertible Unsecured Loan Stocks (RCULS) and Irredeemable Convertible Unsecured Loan Stocks (ICULS). Using the monthly data on corporations listed on the Main Board, Bursa Malaysia, that issued the RCULS and ICULS; buy-and-hold abnormal returns (BHAR) and cumulative abnormal returns (CAR) methods are conducted to examine the long - run performance of the two instruments. The findings and analysis of this thesis were made based on the data collected from Bursa Malaysia Bloomberg and Investor's Digest and Datastream. The results indicate that overperformance exists on the issuing firms1 stock returns for all one - year, two - year and three - year periods, regardless whether buy-and-hold abnormal returns (BHAR) or cumulative abnormal returns (CAR) is applied. Although, the results do contra with Gompers and Lemer (2003), Ritter and Welch (2002), Loughran and Ritter (1995) and Loughran (1993). the argument is based on the sample size being used in the study. 2007-12 Thesis https://etd.uum.edu.my/16/ https://etd.uum.edu.my/16/1/wan_mohd_yaseer.pdf text eng public https://etd.uum.edu.my/16/2/wan_mohd_yaseer-1.pdf text eng public masters masters Universiti Utara Malaysia Abhyankar & Dunning, Wealth effects of convertible bond and convertible preference share issues: An empirical analysis of the LK market, Journal of Banking and Finance 23 (1 999), pp. 1043-1 065. 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