A study of the market reaction towards board of director changes announcement in Malaysia / Nur Azura Hassan

This study investigates the market reaction towards the board of director changes announcement in Malaysia. The study period covers from January 2006 to December 2006. This study used standard event study methodology to find the stock reactions towards those announcements. From the 60 companies sele...

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Main Author:	Hassan, Nur Azura
Format:	Thesis
Language:	English
Published:	2007
Subjects:	Management Industrial Management Marketing
Online Access:	https://ir.uitm.edu.my/id/eprint/28065/2/28065.pdf
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id	my-uitm-ir.28065
record_format	uketd_dc
spelling	my-uitm-ir.280652024-05-14T08:26:59Z A study of the market reaction towards board of director changes announcement in Malaysia / Nur Azura Hassan 2007 Hassan, Nur Azura Management. Industrial Management Marketing This study investigates the market reaction towards the board of director changes announcement in Malaysia. The study period covers from January 2006 to December 2006. This study used standard event study methodology to find the stock reactions towards those announcements. From the 60 companies selected, this study of new appointments and resignations announcement reveals that there was no significant effect on the wealth of the concern firms. From the test period of 30 days before and after the announcements, this study found that there were no significant relationship between average abnormal returns and cumulative abnormal returns around the announcement day. The CAR on day -30, -3 is 1.62%, while the CAR for five day event window (-2, +2) is 0.22%. The last one is the third event window (+3, +30), where it consists of 28 days. The CAR for the third event window is 1.700.10. As a conclusion, this hypotheses testing determined that in answering the Hypothesis 1 and Hypothesis 2, the researcher rejects Ha and does not reject Ho. That means, there were no significant relationship between average abnormal returns and cumulative abnormal returns around the announcement day. 2007 Thesis https://ir.uitm.edu.my/id/eprint/28065/ https://ir.uitm.edu.my/id/eprint/28065/2/28065.pdf text en public degree Universiti Teknologi MARA Faculty of Business and Management
institution	Universiti Teknologi MARA
collection	UiTM Institutional Repository
language	English
topic	Management Industrial Management Marketing
spellingShingle	Management Industrial Management Marketing Hassan, Nur Azura A study of the market reaction towards board of director changes announcement in Malaysia / Nur Azura Hassan
description	This study investigates the market reaction towards the board of director changes announcement in Malaysia. The study period covers from January 2006 to December 2006. This study used standard event study methodology to find the stock reactions towards those announcements. From the 60 companies selected, this study of new appointments and resignations announcement reveals that there was no significant effect on the wealth of the concern firms. From the test period of 30 days before and after the announcements, this study found that there were no significant relationship between average abnormal returns and cumulative abnormal returns around the announcement day. The CAR on day -30, -3 is 1.62%, while the CAR for five day event window (-2, +2) is 0.22%. The last one is the third event window (+3, +30), where it consists of 28 days. The CAR for the third event window is 1.700.10. As a conclusion, this hypotheses testing determined that in answering the Hypothesis 1 and Hypothesis 2, the researcher rejects Ha and does not reject Ho. That means, there were no significant relationship between average abnormal returns and cumulative abnormal returns around the announcement day.
format	Thesis
qualification_level	Bachelor degree
author	Hassan, Nur Azura
author_facet	Hassan, Nur Azura
author_sort	Hassan, Nur Azura
title	A study of the market reaction towards board of director changes announcement in Malaysia / Nur Azura Hassan
title_short	A study of the market reaction towards board of director changes announcement in Malaysia / Nur Azura Hassan
title_full	A study of the market reaction towards board of director changes announcement in Malaysia / Nur Azura Hassan
title_fullStr	A study of the market reaction towards board of director changes announcement in Malaysia / Nur Azura Hassan
title_full_unstemmed	A study of the market reaction towards board of director changes announcement in Malaysia / Nur Azura Hassan
title_sort	study of the market reaction towards board of director changes announcement in malaysia / nur azura hassan
granting_institution	Universiti Teknologi MARA
granting_department	Faculty of Business and Management
publishDate	2007
url	https://ir.uitm.edu.my/id/eprint/28065/2/28065.pdf
_version_	1804889618615631872

A study of the market reaction towards board of director changes announcement in Malaysia / Nur Azura Hassan

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