IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-04013218.html
   My bibliography  Save this paper

Stock Spams: Another Kind Of Stock Prices Manipulation

Author

Listed:
  • Taoufik Bouraoui

    (ESC Rennes School of Business - ESC [Rennes] - ESC Rennes School of Business)

  • Mohamed Mehanaoui

    (Sup de Co Amiens)

  • Bouchaib Bahli

    (ESC Rennes School of Business - ESC [Rennes] - ESC Rennes School of Business)

Abstract

This research investigates the market reaction to an information-based manipulation called stock spams. The impact is focused on the liquidity variable which is measured by Amivest ratio. Using the event study methodology on a sample of penny stocks for the period February 2006 through October 2008, our findings suggest positive and significant abnormal liquidities for stocks targeted by manipulators during the event window. Robustness checks were performed using a non-parametric test. These results support the thesis that this kind of manipulation is a very flourishing business that manipulators exploit by simply purchasing stocks at low prices and selling them at higher prices.

Suggested Citation

  • Taoufik Bouraoui & Mohamed Mehanaoui & Bouchaib Bahli, 2012. "Stock Spams: Another Kind Of Stock Prices Manipulation," Post-Print hal-04013218, HAL.
    • Handle: RePEc:hal:journl:hal-04013218
    DOI: 10.19030/jabr.v29i1.7557
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-04013218. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.