Information spill-over or stereotyping amongst Singapore investors : an empirical investigation on the impact of the China Aviation Oil (CAO) incident on other listed China-based firms in Singapore.
Inspired by the recent China Aviation Oil (CAO) debacle and the concern of the effectiveness of the firm’s corporate governance and corporate reporting, our research seeks to analyze and understand if some of the news affecting CAO have any information spillover effect on the values of other China-b...
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2008
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sg-ntu-dr.10356-102212023-05-19T03:30:08Z Information spill-over or stereotyping amongst Singapore investors : an empirical investigation on the impact of the China Aviation Oil (CAO) incident on other listed China-based firms in Singapore. Lee, Joseph Han Chiang. Koh, Victor Jia Hui. Lim, Songwei. Kwok, Branson Chi Hing Nanyang Business School DRNTU::Business::Accounting::Reporting Inspired by the recent China Aviation Oil (CAO) debacle and the concern of the effectiveness of the firm’s corporate governance and corporate reporting, our research seeks to analyze and understand if some of the news affecting CAO have any information spillover effect on the values of other China-based firms listed on the Singapore Exchange (SGX). We match each of the China-based firms with a non China-based firm by industry and asset size. We identify 7 events affecting CAO, which include those with only CAO specific information/implication and those that contain wider implications. Our analyses on the abnormal returns and cumulative abnormal returns of 18 pairs of sample and control firms show that investors in Singapore are generally sophisticated and they are capable of distinguishing events that are CAO specific from those that contain wider implications. Our study offers an additional evidence to support the general assumption of sophisticated and diligent financial statement users in the conceptual framework of financial accounting. 2008-09-24T07:41:20Z 2008-09-24T07:41:20Z 2006 2006 Final Year Project (FYP) http://hdl.handle.net/10356/10221 Nanyang Technological University application/pdf |
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DRNTU::Business::Accounting::Reporting Lee, Joseph Han Chiang. Koh, Victor Jia Hui. Lim, Songwei. Information spill-over or stereotyping amongst Singapore investors : an empirical investigation on the impact of the China Aviation Oil (CAO) incident on other listed China-based firms in Singapore. |
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Inspired by the recent China Aviation Oil (CAO) debacle and the concern of the effectiveness of the firm’s corporate governance and corporate reporting, our research seeks to analyze and understand if some of the news affecting CAO have any information spillover effect on the values of other China-based firms listed on the Singapore Exchange (SGX). We match each of the China-based firms with a non China-based firm by industry and asset size. We identify 7 events affecting CAO, which include those with only CAO specific information/implication and those that contain wider implications. Our analyses on the abnormal returns and cumulative abnormal returns of 18 pairs of sample and control firms show that investors in Singapore are generally sophisticated and they are capable of distinguishing events that are CAO specific from those that contain wider implications. Our study offers an additional evidence to support the general assumption of sophisticated and diligent financial statement users in the conceptual framework of financial accounting. |
author2 |
Kwok, Branson Chi Hing |
author_facet |
Kwok, Branson Chi Hing Lee, Joseph Han Chiang. Koh, Victor Jia Hui. Lim, Songwei. |
format |
Final Year Project |
author |
Lee, Joseph Han Chiang. Koh, Victor Jia Hui. Lim, Songwei. |
author_sort |
Lee, Joseph Han Chiang. |
title |
Information spill-over or stereotyping amongst Singapore investors : an empirical investigation on the impact of the China Aviation Oil (CAO) incident on other listed China-based firms in Singapore. |
title_short |
Information spill-over or stereotyping amongst Singapore investors : an empirical investigation on the impact of the China Aviation Oil (CAO) incident on other listed China-based firms in Singapore. |
title_full |
Information spill-over or stereotyping amongst Singapore investors : an empirical investigation on the impact of the China Aviation Oil (CAO) incident on other listed China-based firms in Singapore. |
title_fullStr |
Information spill-over or stereotyping amongst Singapore investors : an empirical investigation on the impact of the China Aviation Oil (CAO) incident on other listed China-based firms in Singapore. |
title_full_unstemmed |
Information spill-over or stereotyping amongst Singapore investors : an empirical investigation on the impact of the China Aviation Oil (CAO) incident on other listed China-based firms in Singapore. |
title_sort |
information spill-over or stereotyping amongst singapore investors : an empirical investigation on the impact of the china aviation oil (cao) incident on other listed china-based firms in singapore. |
publishDate |
2008 |
url |
http://hdl.handle.net/10356/10221 |
_version_ |
1770566403760324608 |