HOURLY SHARE PRICE RESPONSE TO THE RELEASE OF PRELIMINARY ANNUAL FINANCIAL REPORTS: SOME UK EVIDENCE

1996 ◽  
Vol 28 (3) ◽  
pp. 187-202 ◽  
Author(s):  
KWAKU K. OPONG
Keyword(s):  
Share Price ◽  
Financial Reports ◽  
Price Response

scholarly journals ANALISIS PENGARUH RASIO KINERJA KEUANGAN TERHADAP HARGA SAHAM PT BANK MANDIRI PERSERO PERIODE 2014 – 2019

GANEC SWARA ◽  
2021 ◽  
Vol 15 (1) ◽  
pp. 963
Author(s):  
I KETUT KUSUMA WIJAYA
Keyword(s):  
Financial Performance ◽  
Stock Prices ◽  
Stock Price ◽  
Supply And Demand ◽  
Share Price ◽  
Financial Reports ◽  
Financial Ratio ◽  
Share Prices ◽  
Performance Variables ◽  
Simultaneous Test

     Share prices occur according to market supply and demand. Demand for shares is influenced by investors' expectations of the issuing company. The better the financial performance of a company, the higher investor expectations will be. This results in the shares becoming increasingly attractive and the share price will be higher. Conversely, if a company's financial performance is not good, investors' expectations will be low, so investors are not interested in investing in these shares. This causes the stock price to fall. The company's financial performance can be done by analyzing financial reports. This study aims to determine the effect of financial performance ratios on stock prices. The analytical tool used is multiple linear regression and hypothesis testing is done by partial test (T-test) and simultaneous test (F-test) and standardized coefficient test.     Based on the research results that simultaneously the financial ratio variable does not have a significant effect on stock prices. Meanwhile, only partially the NPM variable affects stock prices. Meanwhile, the financial performance variables (CAR, ROA, and LDR) do not affect stock prices. For the adjusted R2 value of 99.80%, it means that this value means that the variation of the independent variable which can explain the dependent variable is 99.80% and the remaining 2% is the variation of other variables that are not explained in the model.

Share price response to the SEC administrative proceedings against Chinese auditors

2019 ◽  
Vol 34 (9) ◽  
pp. 1131-1148
Author(s):  
Guoping Liu ◽  
Jerry Sun
Keyword(s):  
Design Methodology ◽  
Securities And Exchange Commission ◽  
Share Price ◽  
Accounting Firms ◽  
Content Type ◽  
Share Prices ◽  
Audit Failure ◽  
Price Response ◽  
Chinese Auditors ◽  
Administrative Proceedings

Purpose The purpose of this study is to examines whether clients’ share prices responded to three events, including the Securities and Exchange Commission (SEC) launch of administrative proceedings against five Chinese accounting firms on December 3, 2012, for their failure to hand over audit work papers due to conflict of jurisdiction; the issuance of SEC Administrative Law Judge Elliot’s ruling on January 22, 2014; and the settlement of the administrative proceedings on February 6, 2015. Design/methodology/approach This study uses the Schipper and Thompson approach. Findings It is found that share prices responded negatively around December 3, 2012, for USA-listed Chinese companies who were audited by Chinese auditors. Originality/value This study provides evidence on how share prices reacted to SEC enforcement actions against an affair of non-audit failure.

ANALISIS RETURN ON EQUITY DALAM MENILAI HARGA SAHAM PT. ASTRA INTERNASIONAL. TBK

PARAMETER ◽  
2021 ◽  
Vol 5 (2) ◽  
pp. 85-96
Author(s):  
Reni El Vionita
Keyword(s):  
Data Collection ◽  
Stock Prices ◽  
Stock Exchange ◽  
Financial Statements ◽  
Share Price ◽  
Descriptive Data ◽  
Financial Reports ◽  
Return On Equity ◽  
Equity Analysis ◽  
Qualitative Descriptive

This study aims to find out how return on equity in assessing the stock prices of PT ASTRA INTERNATIONAL Tbk listed on the Indonesia Stock Exchange. The method used in this study is a qualitative descriptive. Data collection tecniques used are the financial statements for the period 2014 to 2018. Based on the analysis and discussion of the research results it is known that company profits continue to experience this because income earnings are decreasing every year, and equity always increases due to income stock that continues to grow. Return on equity (ROE) at PT. Astra Internasional Tbk. From the calculation of return on equity analysis, in 2014 a percantage of 37,2% was obtained, in 2015 it decreased to 26,2%, and in 2016 the value of return on equity (ROE) again rosr to 24,9%, while in 2017 the vaule of return on equity (ROE) again rose to 25,6%, in 2018 it has again decreased to 22,8%. From these results it is stated that return on equity (ROE) of PT.Astra Internasional Tbk has decreased every year, but the share price continues to rise annually. Based on financial reports for 5 years, from 2014 to 2018 and besed on this research, it was found that return on equity (ROE) has a positive relatoinship with an avarage value of 27,3%, the rest is influenced by other factors beyond the calculation if return on equity (ROE) not discussed in this thesis.

scholarly journals Intra-Industry Effects of Delayed New Product Introductions

2007 ◽  
Vol 10 (03) ◽  
pp. 415-443 ◽  
Author(s):  
Sheng-Syan Chen ◽  
Tsai-Yen Chung ◽  
Kim Wai Ho ◽  
Cheng-Few Lee
Keyword(s):  
New Product ◽  
Free Cash Flow ◽  
Share Price ◽  
Competitive Effect ◽  
Industry Growth ◽  
Price Response ◽  
New Product Introductions ◽  
Industry Competition ◽  
Information Signaling ◽  
Signaling Effect

We find that for a sample of 324 announcements of delayed new product introductions in 52 industries from 1989 to 1997, the rivals overall experience significantly negative share price response. The results suggest that, for the sample as a whole, the information-signaling effect dominates the competitive effect. We further classify the rivals' share price response by industry and find that about 60% of industries have negative response. We also find that a product delay conveys more negative information about the competitors in those industries that are more likely to have product delays. Finally, we show that rivals' share price response is significantly positively related to the announcement effect on the product delay firm, the degree of industry competition, and the industry growth opportunities, and is significantly negatively related to the degree of relatedness of the announcing firm to the industry, and to the level of the announcing firm's free cash flow relative to that of its competitors.

scholarly journals Sainsbury’s vs. Morrisons - An Investment Decision Based on Financial Analysis

2012 ◽  
Vol 3 (3) ◽  
pp. 17-28
Author(s):  
Zuzana Kalmárová
Keyword(s):  
Performance Indicators ◽  
High Probability ◽  
Financial Analysis ◽  
Investment Decision ◽  
Market Price ◽  
Share Price ◽  
Financial Reports ◽  
The United Kingdom ◽  
Food Retailers ◽  
A Company

This paper deals with financial analysis of two large supermarket chains in the United Kingdom, namely Sainsbury’s benchmarked against Morrisons. The purpose is to evaluate whether Sainsbury’s is worth investing in at the market price. To measure the performance of the food retailers mainly Annual Financial Reports and key performance indicators will be used as a tool. Given the financial data, findings show that Sainsbury’s is a company worth investing in at the current share price for both conservative investors and those looking for growth industries. There is a high probability that Sainsbury’s will grow in the future.

scholarly journals Exploring the Probability of Bankruptcy for Conventional Insurance Companies Listed at Kuwait Stock Exchange and its Effect on Their Share Prices

2019 ◽  
pp. 1341-1346
Author(s):  
Musaed S. AlAli ◽  
Yaser A. AlKulaib
Keyword(s):  
Stock Exchange ◽  
Financial System ◽  
Safety Net ◽  
Share Price ◽  
Insurance Companies ◽  
Financial Reports ◽  
Bankruptcy Risk ◽  
Insurance Sector ◽  
Financial Failure ◽  
Kuwait Stock Exchange

Insurance is a crucial component of any financial sector, the financial soundness of the insurance sector will result in a healthier financial system in any country. The insurance sector is responsible for transferring risk from one entity to another, for premium, to hedge against any risk of unexpected loss. For that, the insurance sector plays the role of safety net for the whole of the financial system in any country. This study aims to detect the existence of signs of financial failure for conventional insurance companies listed at Kuwait stock exchange (KSE). The study uses the Altman Model to calculate the financial failure indicators. The research also measures the relationship between the financial failure score and the share price of these companies. The analysis is based on the belief that financial reports provide information to investors which can be taken as indicators of the financial failure or success of companies. This information will affect investment decisions which, in turn, will be reflected on the share price. This study is based on the financial data of conventional insurance companies listed at Kuwait stock exchange for the period spanning from 2010 to 2017. A panel data collected from the financial statements of the four conventional insurance companies listed at the stock market were used to calculate the financial failure score for these companies. Ordinary least squared (OLS) regression method, is then used to evaluate the relation between Altman’s z-score and the share price of these companies. Results obtained from this study showed that conventional insurance companies operating in Kuwait had a healthy financial positions and therefore safe from bankruptcy risk. The study also revealed that there was no statistically significant relation between Altman’s score and the share price indicating that the financial failure score does not have an effect on share price of conventional insurance companies listed at Kuwait stock exchange.

Risk-Factor Disclosure and Asset Prices

2017 ◽  
Vol 93 (2) ◽  
pp. 191-208 ◽  
Author(s):  
Mirko S. Heinle ◽  
Kevin C. Smith ◽  
Robert E. Verrecchia
Keyword(s):  
Risk Factor ◽  
Cash Flow ◽  
Cost Of Capital ◽  
Common Knowledge ◽  
Flow Distribution ◽  
Share Price ◽  
Higher Moments ◽  
Price Response ◽  
Capm Beta ◽  
Systematic Risk Factors

ABSTRACT While researchers and practitioners alike estimate firms' exposures to systematic risk factors, the disclosure literature typically assumes that exposures are common knowledge. We develop a model where the firm's exposure to a factor is unknown, and analyze the effects of factor-exposure uncertainty on share price and the effects of disclosure about the exposure. We find that: (1) factor-exposure uncertainty introduces skewness and excess kurtosis in the cash flow distribution relative to the commonly used normal distribution; (2) risk-factor disclosure affects all moments of that distribution; and (3) the pricing of higher moments affects the price response of disclosure and the incentives to disclose. For example, factor-exposure uncertainty may actually increase price when the uncertainty implies positive skewness in the cash flow distribution. Hence, a reduction in uncertainty through disclosure may increase cost of capital. We also extend our model to multiple firms and show that factor-exposure uncertainty manifests as uncertainty about a firm's CAPM beta. JEL Classifications: G12; M41.

scholarly journals PENGARUH PRICE EARNING RATIO, PRICE TO BOOK VALUE, DAN INFLASI TERHADAP HARGA SAHAM YANG TERINDEKS IDX 30

2019 ◽  
Vol 3 (02) ◽  
Author(s):  
Niki Nony Mutiarani ◽  
Riana R Dewi ◽  
Suhendro Suhendro
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Sampling Method ◽  
Price Index ◽  
Stock Exchange ◽  
Share Price ◽  
Financial Reports ◽  
Book Value ◽  
A Company ◽  
Research Period

This study aims to determine how the effect of Price Earning Ratio, Price to Book Value Ratio and Inflation on Indexed Stock Prices Idx 30 in the period 2016-2018. The object in the 2016-2018 research period was a company whose share price was IDX30 Teindeks on the Indonesia Stock Exchange. The population used in this study is 30 company shares and is based on a purposive sampling method that produces a sample of 11 companies. The dependent variable is represented by the stock price index, while the independent variables in this study are Price Earning Ratio, Price to Book Value Ratio and inflation. The research method used is a quantitative method that takes into account the company's market ratios of financial reports obtained from the IDX website and the level of inflation in Indonesia Partially the results of this study indicate that during the 2016-2018 period Price Earning Ratio, Price to Book Value Ratio and inflation do not affect IDX indexed stock prices 30. Keywords: Stock Prices, Price Earning Ratio, Price To Book Value, Inflation

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