The effect corporate bond issuance to the equity market and its determinants
The study aims to investigate the signaling effect of bond issuance in Malaysia and to determine the company characteristics that influence the effect. Findings of the study reveal positive cumulative average abnormal returns following bond issuance indicating that the market treat bond offers as fa...
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| 語言: | English |
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Malaysia Finance Association
2011
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| 在線閱讀: | http://repo.uum.edu.my/3526/1/MFA.pdf http://repo.uum.edu.my/3526/ http://www.ukm.my/mfa2011/ |
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my.uum.repo.35262016-04-24T04:04:16Z http://repo.uum.edu.my/3526/ The effect corporate bond issuance to the equity market and its determinants Kim, Chin Sze Abdullah, Nur Adiana Hiau HG Finance The study aims to investigate the signaling effect of bond issuance in Malaysia and to determine the company characteristics that influence the effect. Findings of the study reveal positive cumulative average abnormal returns following bond issuance indicating that the market treat bond offers as favourable corporate news.On the other hand, the cross-sectional analysis found insignificant relation between company profitability, growth opportunities, asset tangibility, size and managerial ownership with cumulative abnormal returns of bond issuers. The results confirm the signaling effect of bond issuance but further reveal that the effect is not affected by company characteristics. Malaysia Finance Association 2011-06 Conference or Workshop Item NonPeerReviewed application/pdf en http://repo.uum.edu.my/3526/1/MFA.pdf Kim, Chin Sze and Abdullah, Nur Adiana Hiau (2011) The effect corporate bond issuance to the equity market and its determinants. In: 13th Malaysian Finance Association Conference , 10th-12th June 2011, Holiday Villa Beach Resort & Spa Langkawi, Kedah. http://www.ukm.my/mfa2011/ |
| institution |
Universiti Utara Malaysia |
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UUM Library |
| collection |
Institutional Repository |
| continent |
Asia |
| country |
Malaysia |
| content_provider |
Universiti Utara Malaysia |
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| url_provider |
http://repo.uum.edu.my/ |
| language |
English |
| topic |
HG Finance |
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HG Finance Kim, Chin Sze Abdullah, Nur Adiana Hiau The effect corporate bond issuance to the equity market and its determinants |
| description |
The study aims to investigate the signaling effect of bond issuance in Malaysia and to determine the company characteristics that influence the effect. Findings of the study reveal positive cumulative average abnormal returns following bond issuance indicating that the market treat bond offers as favourable corporate news.On the other hand, the cross-sectional analysis found insignificant relation between company profitability, growth opportunities, asset tangibility, size and managerial ownership with cumulative abnormal returns of bond issuers. The results confirm the signaling effect of bond issuance but further reveal that the effect is not affected by company characteristics. |
| format |
Conference or Workshop Item |
| author |
Kim, Chin Sze Abdullah, Nur Adiana Hiau |
| author_facet |
Kim, Chin Sze Abdullah, Nur Adiana Hiau |
| author_sort |
Kim, Chin Sze |
| title |
The effect corporate bond issuance to the equity market and its determinants |
| title_short |
The effect corporate bond issuance to the equity market and its determinants |
| title_full |
The effect corporate bond issuance to the equity market and its determinants |
| title_fullStr |
The effect corporate bond issuance to the equity market and its determinants |
| title_full_unstemmed |
The effect corporate bond issuance to the equity market and its determinants |
| title_sort |
effect corporate bond issuance to the equity market and its determinants |
| publisher |
Malaysia Finance Association |
| publishDate |
2011 |
| url |
http://repo.uum.edu.my/3526/1/MFA.pdf http://repo.uum.edu.my/3526/ http://www.ukm.my/mfa2011/ |
| _version_ |
1644278528377618432 |