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The impact of foreign ownership on return volatility, volume, and stock risks: Evidence from ASEAN countries

This paper aims to delve into the effect of foreign ownership on return volatility, volume, and risk of buying/holding stocks. It uses panel data from six ASEAN countries from 2007 to 2017. There are three primary findings. First, foreign ownership diminishes return volatility, particularly during a...

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Main Authors: Naufa, Ahmad Maulin, Lantara, I. Wayan Nuka, Lau, Wee Yeap
Format: Article
Published: Elsevier 2019
Subjects:
HC Economic History and Conditions
HF Commerce
Online Access:http://eprints.um.edu.my/23872/
https://doi.org/10.1016/j.eap.2019.09.002
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spelling my.um.eprints.238722020-02-20T03:00:42Z http://eprints.um.edu.my/23872/ The impact of foreign ownership on return volatility, volume, and stock risks: Evidence from ASEAN countries Naufa, Ahmad Maulin Lantara, I. Wayan Nuka Lau, Wee Yeap HC Economic History and Conditions HF Commerce This paper aims to delve into the effect of foreign ownership on return volatility, volume, and risk of buying/holding stocks. It uses panel data from six ASEAN countries from 2007 to 2017. There are three primary findings. First, foreign ownership diminishes return volatility, particularly during and after a crisis. Second, it has a positive influence on the trading volume of a stock in the post-crisis, nonetheless negative during a crisis. Third, it reduces the asset and equity risks. However, these beneficial findings could be uniquely different in other ASEAN member economies. In conclusion, the benefits of foreign ownership outweigh the downside to it. © 2019 Elsevier 2019 Article PeerReviewed Naufa, Ahmad Maulin and Lantara, I. Wayan Nuka and Lau, Wee Yeap (2019) The impact of foreign ownership on return volatility, volume, and stock risks: Evidence from ASEAN countries. Economic Analysis and Policy, 64. pp. 221-235. ISSN 0313-5926 https://doi.org/10.1016/j.eap.2019.09.002 doi:10.1016/j.eap.2019.09.002
institution Universiti Malaya
building UM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaya
content_source UM Research Repository
url_provider http://eprints.um.edu.my/
topic HC Economic History and Conditions
HF Commerce
spellingShingle HC Economic History and Conditions
HF Commerce
Naufa, Ahmad Maulin
Lantara, I. Wayan Nuka
Lau, Wee Yeap
The impact of foreign ownership on return volatility, volume, and stock risks: Evidence from ASEAN countries
description This paper aims to delve into the effect of foreign ownership on return volatility, volume, and risk of buying/holding stocks. It uses panel data from six ASEAN countries from 2007 to 2017. There are three primary findings. First, foreign ownership diminishes return volatility, particularly during and after a crisis. Second, it has a positive influence on the trading volume of a stock in the post-crisis, nonetheless negative during a crisis. Third, it reduces the asset and equity risks. However, these beneficial findings could be uniquely different in other ASEAN member economies. In conclusion, the benefits of foreign ownership outweigh the downside to it. © 2019
format Article
author Naufa, Ahmad Maulin
Lantara, I. Wayan Nuka
Lau, Wee Yeap
author_facet Naufa, Ahmad Maulin
Lantara, I. Wayan Nuka
Lau, Wee Yeap
author_sort Naufa, Ahmad Maulin
title The impact of foreign ownership on return volatility, volume, and stock risks: Evidence from ASEAN countries
title_short The impact of foreign ownership on return volatility, volume, and stock risks: Evidence from ASEAN countries
title_full The impact of foreign ownership on return volatility, volume, and stock risks: Evidence from ASEAN countries
title_fullStr The impact of foreign ownership on return volatility, volume, and stock risks: Evidence from ASEAN countries
title_full_unstemmed The impact of foreign ownership on return volatility, volume, and stock risks: Evidence from ASEAN countries
title_sort impact of foreign ownership on return volatility, volume, and stock risks: evidence from asean countries
publisher Elsevier
publishDate 2019
url http://eprints.um.edu.my/23872/
https://doi.org/10.1016/j.eap.2019.09.002
_version_ 1662755191147986944
score 13.160551

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