Impacts of Unusual Market Activity Announcement on Stock Return : Evidence from The Ace Market in Malaysia
This study examines the effect of Unusual Market Activity (UMA) announcement on stock return in Malaysian market with a sample of 62 companies listed on the ACE market at Bursa Malaysia for the period of 2007-2015. This study employs event study methodology to show that there were few days in which...
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my.unimas.ir.284322020-08-14T02:26:55Z http://ir.unimas.my/id/eprint/28432/ Impacts of Unusual Market Activity Announcement on Stock Return : Evidence from The Ace Market in Malaysia Liew, Venus Khim-Sen Chen, Dylan Siong-Yain HF5601 Accounting HG Finance This study examines the effect of Unusual Market Activity (UMA) announcement on stock return in Malaysian market with a sample of 62 companies listed on the ACE market at Bursa Malaysia for the period of 2007-2015. This study employs event study methodology to show that there were few days in which the average abnormal return (AAR) and cumulative average abnormal return (CAAR) are statistically significant. In addition, this study also further investigates the abnormal return (AR) and cumulative abnormal return (CAR) for individual companies. It was found that majority of the stocks returns fell significantly 30 days after the UMA announcement. The magnitude of the fall in returns ranges from 4% to 234%. Hence, it is not advisable for investors to buy stock after UMA announcement. Macrothink Institute, Inc. 2019 Article PeerReviewed text en http://ir.unimas.my/id/eprint/28432/1/Impacts%20of%20Unusual%20Market%20Activity%20Announcement%20on%20Stock%20Return%20-%20Copy.pdf Liew, Venus Khim-Sen and Chen, Dylan Siong-Yain (2019) Impacts of Unusual Market Activity Announcement on Stock Return : Evidence from The Ace Market in Malaysia. Asian Journal of Finance & Accounting, 11 (2). pp. 173-185. ISSN 1946-052X http://www.macrothink.org/journal/index.php/ajfa DOI:10.5296/ajfa.v11i2.15234 |
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HF5601 Accounting HG Finance Liew, Venus Khim-Sen Chen, Dylan Siong-Yain Impacts of Unusual Market Activity Announcement on Stock Return : Evidence from The Ace Market in Malaysia |
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This study examines the effect of Unusual Market Activity (UMA) announcement on stock return in Malaysian market with a sample of 62 companies listed on the ACE market at Bursa Malaysia for the period of 2007-2015. This study employs event study methodology to show that there were few days in which the average abnormal return (AAR) and cumulative average abnormal return (CAAR) are statistically significant. In addition, this study also further investigates the abnormal return (AR) and cumulative abnormal return (CAR) for individual
companies. It was found that majority of the stocks returns fell significantly 30 days after the UMA announcement. The magnitude of the fall in returns ranges from 4% to 234%. Hence, it is not advisable for investors to buy stock after UMA announcement. |
format |
Article |
author |
Liew, Venus Khim-Sen Chen, Dylan Siong-Yain |
author_facet |
Liew, Venus Khim-Sen Chen, Dylan Siong-Yain |
author_sort |
Liew, Venus Khim-Sen |
title |
Impacts of Unusual Market Activity Announcement on Stock Return : Evidence from The Ace Market in Malaysia |
title_short |
Impacts of Unusual Market Activity Announcement on Stock Return : Evidence from The Ace Market in Malaysia |
title_full |
Impacts of Unusual Market Activity Announcement on Stock Return : Evidence from The Ace Market in Malaysia |
title_fullStr |
Impacts of Unusual Market Activity Announcement on Stock Return : Evidence from The Ace Market in Malaysia |
title_full_unstemmed |
Impacts of Unusual Market Activity Announcement on Stock Return : Evidence from The Ace Market in Malaysia |
title_sort |
impacts of unusual market activity announcement on stock return : evidence from the ace market in malaysia |
publisher |
Macrothink Institute, Inc. |
publishDate |
2019 |
url |
http://ir.unimas.my/id/eprint/28432/1/Impacts%20of%20Unusual%20Market%20Activity%20Announcement%20on%20Stock%20Return%20-%20Copy.pdf http://ir.unimas.my/id/eprint/28432/ http://www.macrothink.org/journal/index.php/ajfa |
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13.18916 |