Voon, Sze-Ling and Puah, Chin Hong and Harry, Entebang (2008) Corporate Crime Announcement Effects On Stock Performance: An Empirical Study In Malaysia. Journal of Economic Cooperation Among Islamic Countries, 29 (2). pp. 15-28. ISSN 1308-7800
|
PDF
CORPORATE CRIME ANNOUNCEMENT EFFECTS ON STOCK PERFORMANCE (abstract).pdf Download (28kB) | Preview |
Abstract
An in-depth investigation of the effects of announcement of corporate crime on firm performance focusing on stock market performance among public enterprises in Malaysia has been conducted. A sample of 7 large, established public companies charged for committing corporate crime by Securities Commission from the period of 1999 to 2005 in Malaysia were identified and examined. Using the event-study methodology proposed by Rao (1997), monthly average abnormal returns (AARs) and cumulative average abnormal returns (CAARs) for the sample of 8 announcements of separate crimes ranging from 12 months prior to and 6 months after the announcement dates are determined. Empirical result indicates that the stock market is informationally inefficient in Malaysia and investors do react to announcement of corporate crime.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | Corporate Crime, Firm Performance, stock market, unimas, university, universiti, Borneo, Malaysia, Sarawak, Kuching, Samarahan, ipta, education, research, Universiti Malaysia Sarawak |
| Subjects: | H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management |
| Divisions: | Academic Faculties, Institutes and Centres > Faculty of Economics and Business Faculties, Institutes, Centres > Faculty of Economics and Business |
| Depositing User: | Karen Kornalius |
| Date Deposited: | 25 Sep 2017 03:08 |
| Last Modified: | 25 Sep 2017 03:08 |
| URI: | http://ir.unimas.my/id/eprint/17762 |
Actions (For repository members only: login required)
 |
View Item |
