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Corporate Event

In: ANALYSIS OF THE KOREAN STOCK MARKET Behavioral Finance Approaches

Author

Listed:
  • Keunsoo Kim
  • Jinho Byun

Abstract

We examine stock-price movements around the announcement of corporate events such as IPOs, SEOs, stock splits, share repurchases, and dividend payments. According to the efficient market hypothesis (EMH), stock price reacts to new information fully and instantaneously. Thus, it is difficult to earn abnormal returns using an investment strategy based on corporate events. However, many researchers claim that the markets under- or overrespond to the information from a behavioral perspective. Thus, we summarize market behavior related to the announcement of corporate events in Korea…

Suggested Citation

  • Keunsoo Kim & Jinho Byun, 2018. "Corporate Event," World Scientific Book Chapters, in: ANALYSIS OF THE KOREAN STOCK MARKET Behavioral Finance Approaches, chapter 5, pages 161-192, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813236769_0005
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    More about this item

    Keywords

    Korean Stock Market; Market Predictability; Trading Behavior; Seasonal Effect; Cross-Sectional Anomalies; Industry Analysis; History of Korean Stock Market;
    All these keywords.

    JEL classification:

    • P33 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - International Trade, Finance, Investment, Relations, and Aid

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