A Perspective on Promoter Ownership and Market Reaction to Corporate News: Evidence from India
Publish place: Iranian Economic Review Journal، Vol: 23، Issue: 4
Publish Year: 1398
نوع سند: مقاله ژورنالی
زبان: English
View: 87
This Paper With 21 Page And PDF Format Ready To Download
- Certificate
- من نویسنده این مقاله هستم
استخراج به نرم افزارهای پژوهشی:
شناسه ملی سند علمی:
JR_IER-23-4_003
تاریخ نمایه سازی: 21 مهر 1402
Abstract:
C orporate governance structures in the wake of observed differences in firm ownership structures in developed markets and emerging market economies are distinct. In this paper, we examine the effect of an ownership structure of firms on the market reaction to corporate news flows in the context of emerging market economies like India. We observe the price and volume movements associated with eight different categories of corporate news flow (Analyst Calls, Earnings, Earnings forecasts, Finance, Legal and Regulatory, Management, Operations and Restructuring ) for a sample of firms listed on the National Stock Exchange of India after taking into consideration the extent of promoter ownership in the firm using the standard event study methodology. The magnitude of the price and volume reaction reveals that the market reaction to firm specific corporate news differs according to the type and sentiment of the news flow and the level of promoter ownership in the firm. We also provide a perspective on the relative importance of corporate news flow to the investors for firms with a distinct ownership structure.
Keywords:
Keywords: Corporate News , Corporate governance , Ownership Structure , Event study , Abnormal Return , Trading Volume. JEL Classification: G۱۲ , G۱۴
Authors
Nayanjyoti Bhattacharjee
Department of Management Studies, Bodoland University, Kokrajhar, Assam, India
Anupam De
Department of Management Studies, National Institute of Technology, Durgapur, West Bengal, India
مراجع و منابع این Paper:
لیست زیر مراجع و منابع استفاده شده در این Paper را نمایش می دهد. این مراجع به صورت کاملا ماشینی و بر اساس هوش مصنوعی استخراج شده اند و لذا ممکن است دارای اشکالاتی باشند که به مرور زمان دقت استخراج این محتوا افزایش می یابد. مراجعی که مقالات مربوط به آنها در سیویلیکا نمایه شده و پیدا شده اند، به خود Paper لینک شده اند :