Dividend Equivalent Rights and Firm’s Long-Term Stock Performance

2011 ◽  
Author(s):  
Zi Jia
Keyword(s):  
Stock Performance

Long-term stock performance after open-market repurchases in Korea

2005 ◽  
Vol 16 (2) ◽  
pp. 191-209 ◽  
Author(s):  
Yong-Gyo Lee ◽  
Sung-Chang Jung ◽  
John H. Thornton
Keyword(s):  
Open Market ◽  
Stock Performance

Long-term stock performance following extraordinary and special cash dividends

2009 ◽  
Vol 49 (1) ◽  
pp. 54-73 ◽  
Author(s):  
De-Wai Chou ◽  
Yi Liu ◽  
Zaher Zantout
Keyword(s):  
Stock Performance

scholarly journals Stock Performance of Socially Responsible Companies

2016 ◽  
Vol 5 (1) ◽  
pp. 1-12
Author(s):  
Tzu-Man Huang ◽  
Sijing Zong
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Transaction Costs ◽  
Stock Returns ◽  
Market Returns ◽  
Socially Responsible ◽  
Stock Performance ◽  
The Difference ◽  
Corporate Social

Abstract Every year Corporate Responsibility Magazine selects and ranks 100 companies on the basis of their corporate social responsibility. This study investigates the stock performance of socially responsible companies in the U.S. The monthly stock returns for these companies are analyzed and compared with the market performance, with the S&P 500 index designated as a proxy for the market. The empirical evidence suggests that these 100 companies outperform the market in their monthly stock returns. We also narrow down the number of companies selected to the top 75, 50, 25, and 10 firms. As we narrow down the companies selected, the difference between their returns and the market returns also narrows. In other words, a portfolio that includes all top 100 companies provides the best stock performance. We extend the analysis to long-term annual stock performance. We find that these socially responsible companies′ annual returns are higher than the market returns for up to seven years after they are listed. We also conduct the same analysis on the top 75, 50, 25, and 10 firms, respectively. Similarly, the larger the number of these top 100 companies, the greater the tendency to generate higher annual returns. We suspect that because the difference between the socially responsible companies′ average returns and the market returns is not dramatic, with a bigger population and thus a larger sample size, the difference becomes more significant. However, in practice, transaction costs must be considered. This study is limited in that it does not consider transaction costs. Nevertheless, we hope to shed some light on the issue of socially responsible companies′ stock performance to encourage companies to start thinking about the importance of corporate social responsibility.

scholarly journals Leverage, Maturities of Debt and Stock Performance

2013 ◽  
Author(s):  
Tristan Nguyen ◽  
Alexander Schüßler
Keyword(s):  
Stock Returns ◽  
The United States ◽  
Stock Performance ◽  
Negative Relation ◽  
Total Debt ◽  
Total Capital ◽  
The Us ◽  
Prior Literature ◽  
The Uk

We add to the prior literature that test the influence of total leverage on stock returns by focusing on an extended ratio, namely, ‘Total Debt to (Total Capital + Long Term Debt)’, TD/(TC+LTD)’, the ratio henceforth. Further, and in contrast with others, we account for different maturities of debt. The link between this ratio and stock returns for periods of one to sixty months are considered for Germany, the UK and the US. We control for beta and form quintiles based on the ratio to compute mean returns. Our findings indicate a robust negative relation between the ratio and returns for Germany and the UK. In these two markets, the lowest ratio-quintile performs better that the highest ratio-quintile for all the periods studied. Interestingly, the results for the United States are less clear. Due to a number of known factors, market efficiency might be higher in the US than in the other two markets.  

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