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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Main Author: DING, David K.
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2000
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Online Access:https://ink.library.smu.edu.sg/lkcsb_research/747
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Institution: Singapore Management University
Language: English
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spelling 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
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic Finance and Financial Management
Portfolio and Security Analysis
spellingShingle 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
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