Stock Price Reactions to News and the Momentum Effect in the Korean Stock Market

2014 ◽  
Vol 43 (4) ◽  
pp. 556-588 ◽  
Author(s):  
Dongweon Lee ◽  
Jaeho Cho
Keyword(s):  
Stock Market ◽  
Stock Price ◽  
Momentum Effect ◽  
Korean Stock Market ◽  
Price Reactions ◽  
Stock Price Reactions

scholarly journals Stock market reactions to the Japanese Sarbanes-Oxley act of 2006

2009 ◽  
Vol 7 (2) ◽  
pp. 126-136 ◽  
Author(s):  
Kosuke Seino ◽  
Fumiko Takeda
Keyword(s):  
Stock Market ◽  
Stock Prices ◽  
Stock Price ◽  
High Ratio ◽  
Corporate Accountability ◽  
Market Reactions ◽  
Sarbanes Oxley ◽  
Price Reactions ◽  
Stock Price Reactions ◽  
Stock Market Reactions

This article investigates stock market reactions to announcements related to the introduction of the Financial Instruments and Exchange Law or the so-called Japanese Sarbanes-Oxley Act (J-SOX), which was enacted to reinforce corporate accountability and responsibility. We find that the announcements leading to the passage of the J-SOX raised stock prices of firms listed on the First Section of the Tokyo Stock Exchange. Another finding is that firms with a high ratio of foreign shareholders or leverage experienced more positive stock price reactions. By contrast, whether the firm was audited by Big 4 audit firms did not seem to matter to investors. In addition, large firms tended to have more negative stock price reactions than small firms.

The determinants of the COVID-19 related stock price overreaction and volatility

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yiyang Val Sun ◽  
Bin Liu ◽  
Tina Prodromou
Keyword(s):  
Corporate Governance ◽  
Stock Market ◽  
Stock Price ◽  
Trading Volume ◽  
Cross Sectional ◽  
Content Type ◽  
Out Of Sample ◽  
Price Reactions ◽  
Stock Price Reactions ◽  
Practical Implications

Purpose This study aims to investigate which stock characteristics and corporate governance variables affect stock price overreaction and volatility during the COVID-19 pandemic period. Design/methodology/approach A set of stock characteristics and corporate governance variables which may affect price overreaction and volatility were identified following a review of the literature. A dummy variable was created for the cross-sectional analysis to take into account the unique sector effect in the consumer staples sector. Out of sample analysis was conducted to confirm the robustness of the main results. Findings The empirical results consistently show that size, dividend and trading volume determine the stock price reactions when the market is in turmoil during the pandemic period. Board size and average board tenure exhibit moderate effects on reducing the stock price reactions, but the effects become insignificant while controlling for the firm characteristics in the regressions. The results remain robust when tested out of the sample. More interestingly, a consumer staples sector effect is identified and tested. The test results show that the consumer staples sector effect mitigates the stock price reactions. Practical implications The results have practical implications for investors who aim to manage desired levels of risk in their portfolios during the pandemic. The results also provide meaningful insights to stock market speculators regarding pandemic-related speculation opportunities. Originality/value This study makes a meaningful connection between the irrational stock market anomalies and the COVID-19 pandemic.

Stock price reactions to brand value announcements: Magnitude and moderators

2015 ◽  
Vol 32 (1) ◽  
pp. 34-47 ◽  
Author(s):  
Marie Dutordoir ◽  
Frank H.M. Verbeeten ◽  
Dominique De Beijer
Keyword(s):  
Stock Price ◽  
Brand Value ◽  
Price Reactions ◽  
Stock Price Reactions
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