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Relevant bibliographies by topics / Buy-and-hold abnormal return (BHAR)

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Academic literature on the topic 'Buy-and-hold abnormal return (BHAR)'

Author: Grafiati

Published: 4 June 2021

Last updated: 15 February 2022

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Journal articles on the topic "Buy-and-hold abnormal return (BHAR)"

1

Dutta, Anupam, and Probal Dutta. "Pricing of IPOs: further evidence from South Africa." Corporate Ownership and Control 12, no. 4 (2015): 281–85. http://dx.doi.org/10.22495/cocv12i4c2p4.

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We examine the long-term performance of 225 IPOs listed on the Johannesburg Securities Index (JSE) during the period from 1996 to 2006. The buy-and-hold abnormal return (BHAR) method and the calendar time portfolio (CTP) approach have been employed to measure the long-run performance of IPO stocks. The findings reveal that IPOs are highly underpriced when the abnormal returns are estimated by BHAR methodology. However, the use of control firm approach instead of market index for measuring abnormal performances significantly reduces the magnitude of this underpricing reported in previous studie

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2

Jena, Sarthak Kumar, Chandra Sekhar Mishra, and Prabina Rajib. "Do Indian Companies Manage Earnings Before Share Repurchase?" Global Business Review 21, no. 6 (2019): 1427–47. http://dx.doi.org/10.1177/0972150919856993.

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This article aims to detect the opportunistic EM before share buyback and its impact on the short-term and long-term abnormal return. The study also examines the relationship between EM and promoters’ holdings in the company. A sample of 117 companies over 1998–2013 is analyzed in the study. The quality of earnings is measured using discretionary accruals (DAs), and it is calculated by four different methods, that is, the Healy model (1985), DeAngelo model (1986), modified Jones model (1995) and performance-matched model (2005). Cumulative abnormal return (CAR) is calculated for a short-term a

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3

Jaskiewicz, Peter, Víctor M. González, Susana Menéndez, and Dirk Schiereck. "Long-Run IPO Performance Analysis of German and Spanish Family-Owned Businesses." Family Business Review 18, no. 3 (2005): 179–202. http://dx.doi.org/10.1111/j.1741-6248.2005.00041.x.

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This article examines the long-run stock market performance of German and Spanish initial public offerings (IPOs) between 1990 and 2000. We distinguish between family-and nonfamily-owned business IPOs by using the power subscale of the F-PEC. Buy-and-hold-abnormal returns (BHAR) are calculated in order to determine abnormal returns. Our results show that three years after going public, investors, on average, realized an abnormal return of − 32.8% for German and − 36.7% for Spanish IPOs. In both countries, nonfamily business IPOs perform insignificantly better. Regression analyses show that for

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4

Ledwani, Sanket, Suman Chakraborty, and Sandeep S. Shenoy. "Spatial tale of G-7 and BRICS stock markets during COVID-19: An event study." Investment Management and Financial Innovations 18, no. 2 (2021): 20–36. http://dx.doi.org/10.21511/imfi.18(2).2021.03.

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The unprecedented outbreak of COVID-19 has affected every aspect of the human life, be it health, social, or economic dimensions. The anxiety and uncertainty wobbled the economies of affected countries worldwide. This study attempts to quantify the impact of COVID-19 on the performance of major stock markets of G-7 nations vis-à-vis BRICS nations. An event study methodology is employed to capture the effect of the systematic event in the form of Buy and Hold Abnormal Returns (BHAR) and Average Buy and Hold Abnormal Returns (ABHAR). The study considers a 90-day observation window, consisting of

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5

Lee, BokHyun. "The Relationship between Technology Life Cycle and Korean Stock Market Performance." International Journal of Financial Studies 6, no. 4 (2018): 88. http://dx.doi.org/10.3390/ijfs6040088.

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Through the three industrial revolutions, technology has enabled rapid changes in society. In a capitalist society, capital is invested where there is utility, for example, economic benefit. We intend to determine that the stock price of a company that uses a particular technology will change with the life cycle of the technology in question. Specifically, we filtered companies that mainly deal with augmented reality and are listed in Korea’s KOSDAQ market. We grouped these companies based on detailed technologies that constitute augmented reality. We used the event study method to calculate t

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6

Komenkul, Kulabutr, and Santi Kiranand. "Aftermarket Performance of Health Care and Biopharmaceutical IPOs: Evidence From ASEAN Countries." INQUIRY: The Journal of Health Care Organization, Provision, and Financing 54 (January 1, 2017): 004695801772710. http://dx.doi.org/10.1177/0046958017727105.

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We examine the evidence from the long-run abnormal returns using data for 76 health care and biopharmaceutical initial public offerings (IPOs) listed in a 29-year period between 1986 and 2014 in the Association of Southeast Asian Nations (ASEAN) countries such as Indonesia, Malaysia, Singapore, Thailand, the Philippines, Vietnam, Myanmar, and Laos. Based on the event-time approach, the 3-year stock returns of the IPOs are investigated using cumulative abnormal return (CAR) and buy-and-hold abnormal return (BHAR). As a robustness check, the calendar-time approach, related to the market model as

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7

Dutta, Anupam. "Seasoned Equity Offerings: Further Evidence from Australia." Global Business Review 18, no. 4 (2017): 1010–18. http://dx.doi.org/10.1177/0972150917692403.

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While numerous empirical studies document significant long-run underperformance of seasoned equity offerings (SEOs) in different security markets, Allen and Soucik (2008, Mathematics and Computers in Simulation, 78(2–3), 146–154) argue that such an underperformance is dependent on the definition of ‘long-run’. They show that if ‘long-run’ is defined as 12 years instead of the usual 5 years, Australian SEOs seem to turn around their performance particularly during the sixth and seventh year, and the abnormal performance tends to disappear by the eighth year. This article reassesses whether the

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8

Komenkul, Kulabutr, Mohamed Sherif, and Bing Xu. "Prospectus disclosure and the stock market performance of initial public offerings (IPOs): the case of Thailand." Investment Management and Financial Innovations 13, no. 4 (2016): 160–79. http://dx.doi.org/10.21511/imfi.13(4-1).2016.02.

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This study examines if the prospectus disclosure of the motives for an initial public offering (IPO) explains the long-run performance of equity issuers using hand-collected data for 245 IPOs from the Stock Exchange of Thailand (SET), and also the Market for Alternative Investments (MAI), in the 12-year period between 2001 and 2012. The stock returns of the IPOs were investigated using cumulative abnormal return (CAR) and buy-and-hold abnormal return (BHAR). The authors find a significant impact for the level of use-of-proceeds disclosure on IPO underpricing, and further that the ex-ante uncer

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9

Singh, Amit Kumar, and Srishti Jain. "Foreign Direct Investment and Initial Public Offerings: Exploring the Roads Less Travelled." FIIB Business Review 9, no. 4 (2020): 309–18. http://dx.doi.org/10.1177/2319714520973849.

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This article examines the performance of initial public offerings (IPOs) issued by the economic sectors in India. It analyses the level of underpricing measured by market adjusted initial return (MAIR), short-run performance measured by market-adjusted abnormal return (MAAR) and long-run performance measured by 3-year buy and hold abnormal return (BHAR) methodology relative to Sensex and Nifty for 40 IPOs approaching the capital market during the period 2006–2016. The selection of IPOs is based on the foreign direct investment (FDI) limit of USD 3,000 million in each economic sector, that is,

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10

Khadim, Muhammad Irfan, and Samreen Fahim Babar. "IPO Intra Industry Effects on Peer Firm's Earnings, Composition and Stock Returns." Global Economics Review VI, no. II (2021): 41–48. http://dx.doi.org/10.31703/ger.2021(vi-ii).04.

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The present study is conducted to see how an IPO event affects the existing firm's performance within the same industry. For this purpose, 88 IPO firms were examined from Pakistan Stock Exchange (PSX) from 1998-2016. IPO is examined from three major perspectives IPO proceeds, initial returns and time Lag between IPO listing date and IPO subscription. The study uses Buy and Hold Abnormal Returns (BHAR) and Cumulative Abnormal Returns (CAR) to calculate competitor's abnormal returns. To calculate the operating performance of competitors, the Wilcoxon significance test was applied. IPO intra-indu

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