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Voluntary trading suspensions in Singapore

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Author Info

  • Ruth Tan
  • W. Y. Yeo
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    Abstract

    This paper successfully subgroups firm-initiated suspensions into 'favourable news' and 'unfavourable news' suspensions. The 'favourable news' group experiences significantly positive abnormal returns around the event date. The 'unfavourable news' group, on the other hand, suffers a prolonged decline. The high trading volumes in the pre- and the post-suspension periods suggest that firm-initiated suspensions on the Singapore Exchange involve the release of new sensitive information. Firm-initiated trading suspensions are also accompanied by increases in post-suspension return volatility.

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    File URL: http://www.tandfonline.com/doi/abs/10.1080/09603100210017351
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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Applied Financial Economics.

    Volume (Year): 13 (2003)
    Issue (Month): 7 ()
    Pages: 517-523

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    Handle: RePEc:taf:apfiec:v:13:y:2003:i:7:p:517-523

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    Web page: http://www.tandfonline.com/RAFE20

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    Cited by:
    1. Bacha, Obiyathulla I. & Mohamed, Eskandar R. & Ramlee, Roslily, 2008. "The Efficiency of Trading Halts; Evidence from Bursa Malaysia," MPRA Paper 13077, University Library of Munich, Germany.
    2. Frino, Alex & Lecce, Steven & Segara, Reuben, 2011. "The impact of trading halts on liquidity and price volatility: Evidence from the Australian Stock Exchange," Pacific-Basin Finance Journal, Elsevier, vol. 19(3), pages 298-307, June.

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