Record Details

IMPACT OF PUBLIC INFORMATION SIGNALS ON SHARE PRICES: EVIDENCE FROM LITHUANIA

Economics and Management

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Field Value
 
Title IMPACT OF PUBLIC INFORMATION SIGNALS ON SHARE PRICES: EVIDENCE FROM LITHUANIA
 
Creator Eizentas, Vilis; Terra Markets AS
Krušinskas, Rytis; Kaunas University of Technology
Stankevičienė, Jurgita; Kaunas University of Technology
 
Subject governance; signaling theory; public information signals; corporate value
 
Description Publicly delivered information is probably the most important mean for company to communicate its performance to the parties concerned. However, after each information signal, the change of stock market price can take contradictory and not always favorable direction. Theoretical and empirical studies of different researchers suggest that the disclosure of new information is one of the most important factors influencing the stock market prices, but there is not any unanimous answer about the direction and strength of the impact. Our research was performed on a sample of companies included in the OMX Vilnius index, over the period of 2005 to 2009 and evidenced that in some cases (information signals about the performance results, planned development, transactions carried out by executives, emissions of bank bonds, etc.), investors could take the advantage of market inefficiency and earn statistically significant abnormal return.DOI: http://dx.doi.org/10.5755/j01.em.17.3.2098
 
Publisher Kaunas University of Technology
 
Contributor —
 
Date 2012-08-08
 
Type —
—
 
Format application/pdf
 
Identifier http://www.eejournal.ktu.lt/index.php/Ekv/article/view/2098
10.5755/j01.em.17.3.2098
 
Source ECONOMICS AND MANAGEMENT; Vol 17, No 3 (2012); 879-888
EKONOMIKA IR VADYBA; Vol 17, No 3 (2012); 879-888
 
Language en
 
Rights Autorių teisės yra apibrėžtos Lietuvos Respublikos autorių teisių ir gretutinių teisių įstatymo 4-37 straipsniuose.
Copyright terms are indicated in the Republic of Lithuania Law on Copyright and Related Rights, Articles 4-37.