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Jindal, Divya
- Reaction of Share Price and Trading Liquidity to Announcement of Stock Dividends
Abstract Views :427 |
PDF Views:108
Authors
Divya Jindal
1,
Priya Gupta
2
Affiliations
1 Apeejay School of Management, Sector-8, Dwarka Institutional Area, New Delhi-110077, IN
2 Apeejay School of Management, Sector-8, Dwarka Institutional Area, New Delhi-110077, IN
1 Apeejay School of Management, Sector-8, Dwarka Institutional Area, New Delhi-110077, IN
2 Apeejay School of Management, Sector-8, Dwarka Institutional Area, New Delhi-110077, IN
Source
Review of Professional Management- A Journal of New Delhi Institute of Management, Vol 8, No 2 (2010), Pagination: 19-29Abstract
Stock Dividends being purely a redistribution of funds between reserves and paid up share capital does not affect the firm's net worth, and should therefore have no impact on share prices and trading volume. This has been supported by the findings of some empirical studies but a number of studies have also shown a positive relationship between bonus issue announcements and the share prices. The lack of conclusive evidence for the same prompted the present study. The study provided evidence of the signaling hypothesis as a significant positive abnormal return of 1.983% was found on announcement day.Full Text
- Effect of Ownership Retention on Initial Returns of IPOS Listed on NSE
Abstract Views :358 |
PDF Views:128
Authors
Affiliations
1 Apeejay School of Management, New Delhi, IN
1 Apeejay School of Management, New Delhi, IN
Source
Review of Professional Management- A Journal of New Delhi Institute of Management, Vol 15, No 1 (2017), Pagination: 1-8Abstract
IPOs are the focus of attention for many investors, analysts and researchers as they have the potential to provide huge abnormal returns on the first day of listing. Various reasons have been assigned for the initial returns generated by IPOs. The ownership structure of the companies going public for both pre and post the listing of the IPO stocks, and more specifically ownership retention by promoters and promoter groups, may have an impact on liquidity of the stocks and hence the initial returns.
This paper empirically investigates the effect that the retention of ownership by promoters and promoter groups on the Market-Adjusted Initial Return (MAIR) from IPOs based on a sample of 95 IPOs issued in India and listed on National Stock Exchange (NSE) from 2010 to 2013. The findings show that the IPOs with higher ownership retention provide significantly higher MAIR.
Keywords
IPOs, Ownership Retention, Market-Adjusted Return, Initial Return.Full Text
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