Ownership Structure, Share Price Levels, and the Value of the Firm

2007 ◽  
Author(s):  
Chitru S. Fernando ◽  
Vladimir A. Gatchev ◽  
Paul A. Spindt
Keyword(s):  
Ownership Structure ◽  
Share Price ◽  
Price Levels

scholarly journals The effect of equity ownership structure, financial leverage and proprietary costs on share price anticipation of future earnings: evidence from MENA emerging markets

2013 ◽  
Vol 11 (1) ◽  
pp. 518-533
Author(s):  
Nejia Moumen ◽  
Hakim Ben Othman ◽  
Khaled Hussainey
Keyword(s):  
Emerging Markets ◽  
Ownership Structure ◽  
Middle Eastern ◽  
Share Price ◽  
North African ◽  
Financial Leverage ◽  
Insider Ownership ◽  
Future Earnings ◽  
Proprietary Costs ◽  
Equity Ownership Structure

The paper aims at examining whether the return-future earnings relationship vary with corporate financial leverage, ownership structure and proprietary costs for a sample of 240 firms in the context of Middle Eastern and North African emerging markets. Our results emphasized first a negative association between share price anticipation of future earnings and financial leverage level. We showed also that the return-future earnings relationship is positively related to the level of institutional ownership. Findings revealed in addition and inconsistent with our assumption that insider ownership influences positively the ability of stock return to predict future earnings. Finally, proprietary costs didn’t seem to impact the return future earnings relationship in that only a positive effect on current earnings informativeness was observed.

Share Price Levels and Beta

1979 ◽  
Vol 8 (1) ◽  
pp. 60 ◽  
Author(s):  
Sasson Bar-Yosef ◽  
Lawrence D. Brown
Keyword(s):  
Share Price ◽  
Price Levels

Are share price levels informative? Evidence from the ownership, pricing, turnover and performance of IPO firms

2004 ◽  
Vol 7 (4) ◽  
pp. 377-403 ◽  
Author(s):  
Chitru S. Fernando ◽  
Srinivasan Krishnamurthy ◽  
Paul A. Spindt
Keyword(s):  
Share Price ◽  
Price Levels ◽  
And Performance

The economic consequences of voluntary environmental reporting on shareholder wealth

2006 ◽  
Vol 3 (2) ◽  
pp. 1 ◽  
Author(s):  
Ruslaina Yusoff ◽  
Shariful Amran Abd Rahman ◽  
Wan Nazihah Wan Mohamed
Keyword(s):  
Abnormal Return ◽  
Listed Companies ◽  
Shareholder Wealth ◽  
Environmental Information ◽  
Economic Consequences ◽  
Share Price ◽  
Cumulative Abnormal Return ◽  
Environmental Reporting ◽  
Financial Report ◽  
Significant Difference

This study was carried out to examine the economic consequences ofvoluntary environmental reporting on shareholders' wealth among Malaysian Listed Companies that voluntarily disclosed environmental information in their financial report. One hundred andfifty two (152) companies of Bursa Malaysia (MSE) had been identified as a sample in the current study. Seventy six (76) companies were classified as environmental reporting companies while the remaining companies were classified as non-environmental reporting companies. The classification was done in order to determine the differences between share price, profitability and market equity for both types of companies. The study hypothesizes that voluntary environmental reporting leads to an improvement in the shareholders wealth. However, the results show that there is no significant difference between cumulative abnormal return for environmental and non-environmental reporting companies. Based on the results obtained, it can also be concluded that profitability and size of the companies do not have any significant roles in deciding whether or not to produce environmental reporting companies.

Agency Costs, Mispricing, and Ownership Structure

CFA Digest ◽  
2013 ◽  
Vol 43 (2) ◽  
pp. 14-16
Author(s):  
Gregory G. Gocek
Keyword(s):  
Ownership Structure ◽  
Agency Costs
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