The Event Research in the Effect of Clear Rumor Declarations on Abnormal Stock Returns Behavior
Publish place: Iranian Journal of Finance، Vol: 5، Issue: 3
Publish Year: 1400
نوع سند: مقاله ژورنالی
زبان: English
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شناسه ملی سند علمی:
JR_IJFIFSA-5-3_002
تاریخ نمایه سازی: 24 فروردین 1401
Abstract:
In this research, the impact of clear rumor declarations on the measurement of abnormal stock returns behavior has been investigated in Tehran Stock Market by means of event research so that to reveal well abnormal stock returns behavior. Following testing ۱۶۹ clear rumor declarations during the period (۲۰۱۷-۲۰۱۹), Using Spss statistical software version ۲۶ and Eviews version ۱۲, the results of regression analysis and correlation tests indicate that content of clear rumor declarations may affect abnormal stock returns behavior. Confirmation of good rumors has increased the efficiency of abnormal stock returns ۱۰ days after the date of the given declaration and approval of bad rumors has led to reducing the efficiency of abnormal stock returns upon declaration day. Similarly, the results showed that if rumors were disclosed during working hours in Tehran Stock Market they would reduce the efficiency of abnormal stock returns on the same day. After comparing the results of the research, the need to educate and promote the shareholding culture among shareholders is felt more than ever before. They also need to shift their focus from focusing on rumors to principled investing in futures stocks to avoid cross-sectional fluctuations, destructive rumors and other market risks and achieve a good return stock
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Authors
Javid Hatam
Department of Accounting, Aliabad Katoul Branch, Islamic Azad University, Aliabad Katoul, Iran.
Maryam Bokharaeian Khorasani
Department of Accounting, Aliabad Katoul Branch, Islamic Azad University, Aliabad Katoul, Iran.
Arash Naderian
Department of Accounting, Aliabad Katoul Branch, Islamic Azad University, Aliabad Katoul, Iran.
Jamadori Gorganli Doji
Department of Accounting, Aliabad Katoul Branch, Islamic Azad University, Aliabad Katoul, Iran.
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