Factors affecting Abnormal Returns around Bonus Issue Announcements: An Empirical Analysis of CNX 500 companies
Journal Title: MUDRA: Journal of Finance and Accounting - Year 2017, Vol 4, Issue 2
Abstract
The purpose of this paper is to find the determinants affecting the abnormal returns from bonus announcements for the period 2006 through 2014. The paper uses regression model for the study. The findings reveal that the firm size has a significant role in declining the abnormal returns. Promoters’ holding and abnormal returns are found to have significant and negative relation. The pre-cumulative average abnormal returns are responsible for significant improvement in abnormal returns. The abnormal returns in both the pre-crisis and post-crisis period were negative. The companies belonging to services sector generated significantly higher abnormal returns than the manufacturing sector.
Authors and Affiliations
Haritika Chhatwal, Ashu Lamba
Keywords
Related Articles
- EP ID EP623790
- DOI 10.17492/mudra.v4i02.11445
- Views 265
- Downloads 0
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