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 263
- Downloads 0
Fundamental Research Analysis of Real Estate Sector: A Case Study of IRB Infrastructure and Developers Ltd.
Fundamental analysis is true to its name in being a fundamental research tool to explore the potential of a particular industry or company which can be very helpful in making investment decision. It can also be used to f...
Is Age a Criterion for Sustenance of Microfinance Institutions? A Comparative Study of India and Bangladesh
Microfinance is defined as provision of financial services to low income clients. The institutions offering financial services and banking opportunities to the unbankable population are called as Microfinance Institution...
Shareholders’ Value Creation and Market Price of Share: A Study in Indian Context
Shareholders’ value creation has become a matter of concern in the world of financial management in recent times. Shareholders’ value creation refers to the net value addition for the shareholders. In the present corpora...
Impact of Transformational Leadership on Employee Engagement: An Empirical Study
The market pressures, competitive work environment and advancement in technologies are posing numerous challenges before organizations in order to grow and survive. Human resources in this scenario face tough time at wor...
Literature Review of Life Insurance Markets: Developing a New Perspective to improve the Indian Market
Despite of being the second most populous country, India’s life insurance penetration and density (the two accepted parameters of performance) are low. To look at the causes of underperformance of this vital market, the...