Academic Journal
OPEN MARKET REPURCHASES AND STOCK PRICE INFORMATIVENESS: EVIDENCE FROM MALAYSIA STOCK MARKET
| العنوان: | OPEN MARKET REPURCHASES AND STOCK PRICE INFORMATIVENESS: EVIDENCE FROM MALAYSIA STOCK MARKET |
|---|---|
| المؤلفون: | MENG CHEE, CHONG, AB RAZAK, NAZRUL HISYAM |
| المصدر: | Journal of the Asian Academy of Applied Business (JAAAB); Vol. 5 (2018): JOURNAL OF THE ASIAN ACADEMY OF APPLIED BUSINESS VOLUME 5, DECEMBER 2018 ; 1675-9869 ; 10.51200/jaaab.v0i0 |
| بيانات النشر: | Penerbit Universiti Malaysia Sabah |
| سنة النشر: | 2019 |
| المجموعة: | Universiti Malaysia Sabah (UMS): Journal Management System |
| الوصف: | The aim of research paper is to examine the effect of stock price informativeness, which is conveyed by stock prices, on firm’s open market repurchases (OMRs) activity. The finding of study is to provide evidence of presence of managerial learning whereby managers could use firm-specific stock return variation to buy back their shares via open market. Evidence is found in the subsample analysis where target sample is separated to two subsamples periods and test separately based on stock market performance. The finding of the 1st subsample (Q12008-Q42013) for OMRs activity indicates that variation of stock return and firm size significantly and positively explains OMRs activity. The finding of 1st subsample is robust in terms of random and fixed effect model. The finding implies that managers observed and learned information from firm-specific variation in stock return during financial crisis and recovery periods when performing open market repurchases. Keywords: Open market repurchase, managerial learning hypothesis, stock price informativeness, firm-specific return variation, informed trading. |
| نوع الوثيقة: | article in journal/newspaper |
| وصف الملف: | application/pdf |
| اللغة: | English |
| Relation: | https://jurcon.ums.edu.my/ojums/index.php/JAAAB/article/view/1780/1214; https://jurcon.ums.edu.my/ojums/index.php/JAAAB/article/view/1780 |
| DOI: | 10.51200/jaaab.v0i0.1780 |
| الاتاحة: | https://jurcon.ums.edu.my/ojums/index.php/JAAAB/article/view/1780 https://doi.org/10.51200/jaaab.v0i0.1780 |
| Rights: | Copyright (c) 2019 Journal of the Asian Academy of Applied Business (JAAAB) |
| رقم الانضمام: | edsbas.D847B220 |
| قاعدة البيانات: | BASE |
| DOI: | 10.51200/jaaab.v0i0.1780 |
|---|