This paper develops a behavioural asset pricing model in which traders are not fully rational as is commonly assumed the literature. The derived underpinned by notion that agents’ preferences affected their degree of optimism or pessimism regarding future market states. It characterized representation consistent with Capital Asset Pricing Model, augmented bias yields simple and intuitive econom...


 This study was conducted with the aim of seeing difference in trading volume activity (TVA) and abnormal stock returns before after split on issuers listed Indonesia Stock Exchange for 2019-2022 period. research uses a quantitative approach, type being an event study. The analysis period carried out observation 5 days split, 1 day so that number periods 11 days. population this 380, whil...

The paper focuses on the relationship between firms’ characteristics and cross-section returns. author reviews critically assesses most recent contributions in literature. After comparing abnormal returns (Alpha) t statistics of original works with those replication works, concludes that 94 are robust. limitation is measurement errors COMPUSTAT could affect predictability practical implication ...

Penelitian ini bertujuan untuk meneliti pengaruh Unusual Market Activity (UMA) replies terhadap reaksi pasar saham yang diukur dengan abnormal return pada Bursa Efek Indonesia (BEI) di tahun 2021. Sampel digunakan dalam penelitian berjumlah 162 terdiri dari 14 perusahaan mengeluarkan UMA informasi baru dan 148 tanpa baru. Pengujian hipotesis menggunakan metode Mann-Whitney U-Test diolah SPSS St...

This paper investigates the impact of abnormal returns on stock prices by using daily and hourly data for some developed markets (United States, United Kingdom Japan) emerging (China India) over period from January 1, 2010 to 2020. Average analysis, t-tests, cumulative trading simulation methods are used test following hypotheses: can be detected before end day; there price effects day after oc...

Although the tender offer buyback method has gained significance over time, many companies still prefer open market repurchases. The existing literature focuses mainly on impact of announcements, specifically stock returns; however, announcements and abnormal returns in case repurchases have not yet been studied detail, especially across industries Indian context. This study, therefore, attempt...

Strategic alliances attempt to create a cooperative association between two or more firms to share resources such as product design, production, marketing or distribution. Alliances can be used to avoid the rigidity of some organisational forms, such as mergers and takeovers, and to gain access to knowledge and skills otherwise not available. Despite the rapid growth in the formation of allianc...