The Designation and Removal of Trustee Stock Status: Wealth Effects
This study investigates the impact of trustee stock status announcements on shareholders' wealth in Singapore. An event study methodology is used to ascertain the abnormal returns around the announcement day. The results show that there is a positive and permanent wealth effect on trustee stock...
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Institutional Knowledge at Singapore Management University
2000
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sg-smu-ink.lkcsb_research-17462010-09-23T06:24:04Z The Designation and Removal of Trustee Stock Status: Wealth Effects DING, David K. This study investigates the impact of trustee stock status announcements on shareholders' wealth in Singapore. An event study methodology is used to ascertain the abnormal returns around the announcement day. The results show that there is a positive and permanent wealth effect on trustee stocks resulting from designation announcements. Conversely, when trustee stocks lose their status, the significant negative abnormal returns suggest that shareholders' wealth is adversely affected. This reaction, however, appears to be a temporary phenomenon and is not simply a mirror image of designation announcements. The differences in the underlying regulatory structures partially explain the findings. 2000-08-01T07:00:00Z text https://ink.library.smu.edu.sg/lkcsb_research/747 Research Collection Lee Kong Chian School Of Business eng Institutional Knowledge at Singapore Management University Finance and Financial Management Portfolio and Security Analysis |
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Singapore Management University |
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SMU Libraries |
| continent |
Asia |
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Singapore Singapore |
| content_provider |
SMU Libraries |
| collection |
InK@SMU |
| language |
English |
| topic |
Finance and Financial Management Portfolio and Security Analysis |
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Finance and Financial Management Portfolio and Security Analysis DING, David K. The Designation and Removal of Trustee Stock Status: Wealth Effects |
| description |
This study investigates the impact of trustee stock status announcements on shareholders' wealth in Singapore. An event study methodology is used to ascertain the abnormal returns around the announcement day. The results show that there is a positive and permanent wealth effect on trustee stocks resulting from designation announcements. Conversely, when trustee stocks lose their status, the significant negative abnormal returns suggest that shareholders' wealth is adversely affected. This reaction, however, appears to be a temporary phenomenon and is not simply a mirror image of designation announcements. The differences in the underlying regulatory structures partially explain the findings. |
| format |
text |
| author |
DING, David K. |
| author_facet |
DING, David K. |
| author_sort |
DING, David K. |
| title |
The Designation and Removal of Trustee Stock Status: Wealth Effects |
| title_short |
The Designation and Removal of Trustee Stock Status: Wealth Effects |
| title_full |
The Designation and Removal of Trustee Stock Status: Wealth Effects |
| title_fullStr |
The Designation and Removal of Trustee Stock Status: Wealth Effects |
| title_full_unstemmed |
The Designation and Removal of Trustee Stock Status: Wealth Effects |
| title_sort |
designation and removal of trustee stock status: wealth effects |
| publisher |
Institutional Knowledge at Singapore Management University |
| publishDate |
2000 |
| url |
https://ink.library.smu.edu.sg/lkcsb_research/747 |
| _version_ |
1770569662994579456 |