Dissertations / Theses on the topic 'Stock and stockholders'
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Saensuk, Smart. "The entry and exit of block shareholders : an analysis of block purchases and privately negotiated block repurchases /." free to MU campus, to others for purchase, 2003. http://wwwlib.umi.com/cr/mo/fullcit?p3115588.
Full textArgyros, Robert. "The power of investor sentiment: an analysis of the impact of investor confidence on South African financial markets." Thesis, Rhodes University, 2013. http://hdl.handle.net/10962/d1004169.
Full textKorte, Otto. "Zur mißbräuchlichen Wahrnehmung der aktienrechtlichen Anfechtungsbefugnis /." Frankfurt am Main [u.a.] : Lang, 2003. http://www.gbv.de/dms/spk/sbb/recht/toc/365005320.pdf.
Full textEllis, R. Barry. "What insight do market participants gain from dividend increases?" Thesis, University of North Texas, 2000. https://digital.library.unt.edu/ark:/67531/metadc2536/.
Full textBagchee, Deepika. "Investor response to sell-side analyst revisions in IPO recommendations : do they correct expectations? /." Thesis, Connect to this title online; UW restricted, 2003. http://hdl.handle.net/1773/8818.
Full textWoodland, Angela M. "The effects of tracking stock issuances on operating performance, shareholder wealth, and the informativeness of accounting fundamentals /." free to MU campus, to others for purchase, 2001. http://wwwlib.umi.com/cr/mo/fullcit?p3025667.
Full textMaslo, Armin. "Interessenwahrung und Rechtsschutz der Aktionäre beim Bezugsrechtsausschluss im Rahmen des genehmigten Kapitals /." Berlin : Duncker und Humblot, 2006. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=014859464&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA.
Full textШестопалов, Р. М. "Захист прав учасників акціонерного товариства в контексті організації та проведення загальних зборів акціонерів." Thesis, Українська академія банківської справи Національного банку України, 2005. http://essuir.sumdu.edu.ua/handle/123456789/61771.
Full textParticipation in AT generates the onset of persons of a set of rights, called corporate. One of those the rights stipulated by the current legislation of Ukraine is a right a shareholder in the management of affairs of JSC, which is mostly implemented by participating in a general meeting of shareholders.
Iqbal, Zahid. "Information Content of Managerial Decisions, Change in Risk, and Complimentary Signals: Evidence on New Bond Issue, Exchange Offer, and Dividend Payments." Thesis, University of North Texas, 1988. https://digital.library.unt.edu/ark:/67531/metadc332069/.
Full textChowdhury, Rashedur Rob. "Reconceptualizing the dynamics of the relationship between marginalized stakeholders and multinational firms." Thesis, University of Cambridge, 2013. https://www.repository.cam.ac.uk/handle/1810/252303.
Full textSládková, Kateřina. "Vlastní kapitál v akciové společnosti v účetnictví." Master's thesis, Vysoká škola ekonomická v Praze, 2008. http://www.nusl.cz/ntk/nusl-12098.
Full textGelderblom, Christo. "JSE securities exchange : is there a justification for low voting shares?" Thesis, Stellenbosch : Stellenbosch University, 2006. http://hdl.handle.net/10019.1/20750.
Full textThesis (MBA)--Stellenbosch University, 2006.
ENGLISH ABSTRACT: Certain companies in South Africa have dual classes of shares listed on the JSE Securities Exchange i.e. ordinary shares and N shares. Ordinary listed shares, nonmally holds one vote per share, are referred to as superior voting shares. Restricted voting shares have restricted voting benefits to the shareholders, in some cases one vote casting for thousand shares held. Some companies have listed N shares on the JSE Securities Exchange; these are the South African shares with restricted voting powers. A total of 34 companies have issued low voting shares in South Africa, 2 companies started as far back as 1990. Naspers Limited is the only company that has listed only low voting shares. This study investigates the justification for companies issuing low voting shares by comparing the price performance of these shares and also investigates the justification for shares with restricted voting rights. Tests are conducted to detenmine whether a premium is paid for South African superior voting shares by comparing the share prices of superior voting shares and restricted voting shares on the same day of trading on the JSE Securities Exchange. Various parties in the South African business community have opinions and arguments against and in favour of low voting shares; the reasons for the issuing of low voting shares are under scrutiny. In addition to the above mentioned tests the factors influencing the voting premium have also been investigated. The benefits of restricted shares are also investigated. The results of tests conducted on dual share classes trading in South Africa are compared with the results of similar studies on share price information of dual share classes trading on international stock exchanges. The findings of the study are: Ordinary listed shares are trading at a premium comparing to restricted voting shares, in South Africa the premium is calculated at 9.83%; The payment of dividends to shareholders does not influence the share premium; The ratio of ordinary shares in relation to total shares issued does not influence the VRP of a company; The capitalisation of company, in other words the outstanding number of ordinary shares valued at the market price, does not influence the voting premium; and Companies being controlled by families or major shareholding groups are more likely to issue shares with restricted voting rights; The conclusion of the study is that the limited benefits are offered to the owners of the companies that have issued the dual classes of shares and not to the investors' public. These owners of superior voting shares have utilised restricted voting shares to remain in control of the companies and get access to relative cheap investors funding. Restricted voting shares' popularity declined to the end of 1992, the phenomenon is consistent with demise of restricted voting shares in France
AFRIKAANSE OPSOMMING: Sommige Suid Afrikaanse genoteerde maatskappye het verskillende klasse aandele genoteer op JSE Securities Exchange. Daar word tel kens na gewone genoteerde aandele verwys as aandele met superieure stem reg, die aandele sal sonder uitsondering een stem hou vir elke uitgereikte gewone aandeel. In Suid-Afrika staan aandele met beperkte stem reg bekend as N-aandele. Die betrokke aandele het nie dieselfde stem reg voordele as gewone aandele nie en kan tot een stem per duisend uitgereikte aandele dra. 'n Totaal van 34 maatskappye het beide klasse aandele genoteer, Naspers Beperk is die enigste maatskappy wat slegs aandele met beperkte stemreg genoteer het. Die verhandeling ondersoek of daar enige geldige rede is vir die uitreiking van aandele met beperkte stem reg. 'n Ondersoek word geloods deur te kyk na die prysgedrag van die twee verskillende tipes aandele naamlik gewone en Naandele. Die redes vir enige prysafwykings word ook ondersoek. 'n Vergelykings tussen die aandelepryse van aandele met superieure stemreg en aandele met beperke stemreg (soos genoteer op die JSE Securities Exchange) word gedoen om te bepaal of aandele met superieure stem reg teen 'n premie verhandel. Verskeie partye het argumente en opinies teen en ten gunste van die gebruik van aandele met beperkte stemreg. die redes vir die uitreiking van aandele met beperkte stem reg word onder die vergrootglas geplaas. In Verdere ondersoek na die faktore wat verantwoordelik kon wees vir die premieverskil tussen aandeelpryse van aandele met superior stemregte en aandele met beperkte stemregte word ook gedoen. Daar word ook ondersoek of daar enige voardele is vir die uitreik van aandele met beperkte stemreg. Die studie sluit af met 'n vergelyking van die resultate in 'n Suid-Afrikaanse beleggingingomgewing met die resultate van soorgelyke studies wat gedoen is op aandeleinligting van verskeie intemasionale aandelebeurse waar aandele met beide superieure en beperkte stem reg genoteer is. Die bevindinge van die studie is as volg: Gewone genoteerde aandele (aandele met superieure stemreg) soos genoteer op die JSE Securities Exchange verhandel teen 'n premie van 9.83% oor die tydperk onder oorskou in vergelyking met aandele met beperkte stemreg. Die beta ling van dividende aan aandeelhouers speel geen rol op die grootte van die pryspremie in die verhandeling van gewone genoteerde aandele en aandele met beperkte stem reg. Die verhouding tussen gewone aandele in verhouding to totale aandele uitgereik speel nie 'n rol in die grote van die pryspremie nie; Die kapitalisasie van die maatskappye, met ander word die uitstaande gewone genoteerde aandele teen markprys, speel geen rol in die graolle van die pryspremie nie; en Die aandeelhouersstruktuur speel 'n ral in die uitreiking van aandele met beperkte stemreg. Maatskappye wat beheer word deur families of graot houermaatskappye is geneig om aandele met beperkte stemreg uit te reik. Die gevolgtrekking van die studie is dat aandele met beperkte stemreg wei voordele het, in die geval nie vir die breer beleggingspubliek nie maar wei vir persone of instansies in beheer van die spesifieke maatskappye met beide klasse aandele. Aandele met beperkte stemreg is gebruik am toegang te verkry tot goedkoop befondsing sander am beheer van die maatskappye te verloor. Aandele met beperkte stemreg se gewildheid het begin afneem, nie net in Suid-Afrika nie maar oak in Frankryk waar baie maatskappye besluil hel om weg Ie doen mel die soort aandele.
Kyriakakis, Konstantinos N. "Die Überwachung einer US-amerikanischen Aktiengesellschaft durch institutionelle Anleger /." Frankfurt am Main [u.a.] : Lang, 2002. http://www.gbv.de/dms/sbb-berlin/337451761.pdf.
Full textNebent.: Überwachung des Managements durch institutionelle Anleger.
Li, Bin. "The relationship between investor holding period, and stock and stockholder characteristics." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 1999. http://www.collectionscanada.ca/obj/s4/f2/dsk2/ftp01/MQ39088.pdf.
Full textElwani, Nabil Mohammed. "The Information Behavior of Individual Investors in Saudi Arabia." Thesis, University of North Texas, 2016. https://digital.library.unt.edu/ark:/67531/metadc849714/.
Full textLin, Ching-Ting. "Do individual investors react to non-informative events?" Access to citation, abstract and download form provided by ProQuest Information and Learning Company; downloadable PDF file, 110 p, 2009. http://proquest.umi.com/pqdweb?did=1654492711&sid=3&Fmt=2&clientId=8331&RQT=309&VName=PQD.
Full textReynolds, Noel. "Managerial decision making and stockholder wealth maximization a limited dependent variables model of the choice between dividends and stock repurchases /." [Tampa, Fla.] : University of South Florida, 2004. http://purl.fcla.edu/fcla/etd/SFE0000254.
Full textReynolds, Noel. "Managerial Decision Making and Stockholder Wealth Maximization: A Limited Dependent Variables Model of the Choice Between Dividends and Stock Repurchases." Scholar Commons, 2003. https://scholarcommons.usf.edu/etd/1219.
Full textGarran, Felipe Turbuk. "A influência do porte empresarial no retorno das ações negociadas na Bovespa: proposição de um modelo quantitativo." Universidade de São Paulo, 2012. http://www.teses.usp.br/teses/disponiveis/12/12139/tde-25032013-195143/.
Full textThis study analyses the influence of company size in stock returns in Brazilian market, dealing with the apparent superposition between company size and stock liquidity and searching to elucidate which variable is dominant in determining stock returns. With that purpose, panel data analysis has been used as econometric technic, searching to obtain significant results. Traditional pricing models, mainly CAPM, are based on certain premises which have little in common with the stock markets. There is evidence that, in Brazil, CAPM has been unable to explain stock returns properly. For this reason, some variable are commonly added to the original model and the company size is at the top of the list. However, the legitimacy of the size effect as a risk factor to be paid off to the stockholder is neither consensual in more mature markets, as the American one, nor in the Brazilian market. The study takes into account a time span of 16 years (from 1995 to 2011) and analyses the influence of these variables in stock returns with different delays among variables (from 1 to 5 years). The work concludes that there is a significant size effect in stock returns. The statistical relation is negative, that is, smaller companies tend to have higher cost of equity. This result is aligned with the international research on the subject. The quantitative model suggest that for a logarithmic unit variation in company size there is a 4,03% additional cost of equity. Concerning liquidity, it has not been found, consistently, statistical relation that this variable affects stock returns when controlled by company in Brazilian market.
Li, Xiaoshan. "La protection des actionnaires minoritaires dans les sociétés anonymes : étude comparative du droit français et du droit chinois." Thesis, Paris 2, 2011. http://www.theses.fr/2011PA020021.
Full textThe dissertation aimed to point out that the methods of the protection of minority shareholders in Chinese law and in French law are not subject to the different criteria. In company limited by shares, the legal provisions intend to find a balance of relation between majority shareholders and minority shareholders, and between the shareholders and the company or group of company. It is corporate profits and the principal of equality that direct legislators and judges to suggest applicable solutions.It is important to notify that in French law, legal provisions about the responsibility of majority shareholders or company leaders and the ways of resort of minority shareholders provide reference for improvement of Chinese law. Besides, the study of acquisition of chinese listed companies, looked from the angle of the protection of minority shareholders, very different from tender offer in French law, demonstrate the characteristics of Chinese stock market and deserve foreign investors’ enough attention
Liu, Shuming doctor of finance. "Two essays on stock liquidity." 2008. http://hdl.handle.net/2152/17935.
Full texttext
"Essays in international finance." Thesis, 2003. http://library.cuhk.edu.hk/record=b6073942.
Full textThe Japanese stock market provide a reasonable setting for studying intermediate-horizon price momentum effect, because Japan has the largest equity market aside from the U.S. in terms of both capitalization and number of securities. In Chapter 2, by measuring the relative strength of portfolio on the Japanese market, we found that the price momentum does not exist in the Japanese market. Further, the momentum returns keep always negative on any horizon, which is coherent in keiretsu and non-keiretsu grouping and in different trading volume. The decomposition on the expected average returns of different investment period in Japanese market shows that the price reversals is not capable to overwhelm the losses from the cross-sectional differences in mean returns and cannot yield statistically significant net momentum profits in the Japanese market.
This paper consists of two separate projects: (1) The investor protection and dividend policy in China, (2) Price momentum in Japan.
Wong Chin Pang, Antonio.
"April 2003."
Adviser: Jia He.
Source: Dissertation Abstracts International, Volume: 64-09, Section: A, page: 3413.
Thesis (Ph.D.)--Chinese University of Hong Kong, 2003.
Includes bibliographical references (p. 58-50).
Available also through the Internet via Current research @ Chinese University of Hong Kong under title: Essays in international finance (China, Japan)
Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web.
Electronic reproduction. Ann Arbor, MI : ProQuest dissertations and theses, [200-] System requirements: Adobe Acrobat Reader. Available via World Wide Web.
Electronic reproduction. Ann Arbor, MI : ProQuest Information and Learning Company, [200-] System requirements: Adobe Acrobat Reader. Available via World Wide Web.
Abstracts in English and Chinese.
School code: 1307.
"Studies on the short-term market response and long-term impact of cumulative voting on China's listed companies." 2010. http://library.cuhk.edu.hk/record=b5896657.
Full textThesis (M.Phil.)--Chinese University of Hong Kong, 2010.
Includes bibliographical references (leaves 49-52).
Abstracts in English and Chinese; appendix II, III also in Chinese.
Cover Page --- p.1
Abstract --- p.2
Chinese Version --- p.3
Acknowledgements --- p.4
Contents --- p.5
Chapter 1. --- Introduction --- p.7
Chapter 2. --- Definition and basic idea of Cumulative Voting --- p.9
Chapter 3. --- Literature Review --- p.11
Chapter 4. --- History and Development --- p.12
Chapter 4.1. --- Around the world --- p.12
Chapter 4.2. --- Cumulative voting in listed companies in China --- p.13
Chapter 5. --- Hypothesis --- p.15
Chapter 5.1. --- Nature of cumulative voting --- p.15
Chapter 5.2 --- Relationship of corporate governance mechanism and tunneling in signaling the effect of cumulative voting --- p.18
Chapter 5.2.1. --- Ownership characteristics --- p.18
Chapter 5.2.2. --- Activeness of minority shareholders --- p.20
Chapter 5.2.3. --- Legal framework --- p.21
Chapter 5.2.4. --- Ownership nature --- p.22
Chapter 5.2.5. --- Board of directors and supervisors --- p.22
Chapter 5.2.6. --- Compensations of top executives --- p.23
Chapter 6. --- Methodology --- p.24
Chapter 6.1. --- Cumulative voting in the election of the board of director --- p.24
Chapter 6.2. --- Ownership concentration and characteristics --- p.24
Chapter 6.3. --- Legal framework --- p.25
Chapter 6.4. --- Firm Operation Policy --- p.25
Chapter 6.5. --- Ownership Nature --- p.25
Chapter 6.6. --- Board of directors and supervisors --- p.26
Chapter 6.7. --- Top Executives' compensations --- p.27
Chapter 6.8. --- Operating performance --- p.27
Chapter 6.9. --- Industry sectors --- p.28
Chapter 6.10. --- Market firm value --- p.28
Chapter 6.11. --- Event study approach --- p.29
Chapter 6.12. --- Matched Propensity Scores Approach --- p.32
Chapter 6.13. --- Top Executives' Pay-Performance Sensitivities --- p.34
Chapter 6.14. --- Difference in differences approach --- p.35
Chapter 7. --- Data --- p.39
Chapter 7.1. --- Sources of Data --- p.39
Chapter 7.2. --- Cumulative voting announcements and firm characteristics --- p.39
Chapter 8. --- Empirical Results --- p.40
Chapter 8.1. --- Short-term market response --- p.40
Chapter 8.1.1. --- Event study --- p.40
Chapter 8.1.2. --- Univariate test --- p.41
Chapter 8.1.3. --- Multivate OLS regressions --- p.42
Chapter 8.2. --- Long-term impact --- p.43
Chapter 8.2.1. --- Matched Propensity Scores --- p.43
Chapter 8.2.2. --- Top Executives' Pay-Performance Sensitivities --- p.44
Chapter 8.2.3. --- Univariate test --- p.45
Chapter 8.2.4. --- Difference in Differences regressions --- p.46
Chapter 9. --- Conclusions --- p.47
References --- p.49
Table 1: Descriptive statistics for firms announcing the implementation of cumulative voting in the election of board of directors --- p.53
Table 2: Descriptive statistics for firm characteristics --- p.54
Table 3: Descriptive statistics for annual shareholders' meetings from 2002-2008 --- p.56
Table 4: Cumulative abnormal returns for an event study of the information content of implementation of cumulative voting in election of board of directors announcements --- p.56
Table 5: Abnormal returns for an event study of the information content of implementation of cumulative voting in election of board of directors announcements --- p.57
Table 6: Descriptive statistics for firm characteristics --- p.57
"Table 7: Mean comparison between above median/ ´ب´ب 1"" group and below median/ ""0"" group using t-test" --- p.59
Table 8: OLS regression --- p.60
Table 9: First stage Logistic Model --- p.62
Table 10: Top Executives Pay-Performance sensitivities for salary and inside stock ownership --- p.64
Table 11: Mean comparison between cumulative voting and straight voting group using t-test --- p.65
Table 12: Difference in differences regressions (Corporate governance) --- p.66
Table 13: Difference in differences regressions (Operating performance) --- p.67
Table 14: Difference in differences regressions (Market firm value) --- p.68
Appendix I --- p.68
Appendix II --- p.71
Appendix III --- p.72
Glushkov, Denys Vitalievich. "Two essays on market behavior." Thesis, 2006. http://hdl.handle.net/2152/2869.
Full textPinello, Arianna Spina Morton Richard M. "Individual investor reaction to the earnings expectations path and its components." 2004. http://etd.lib.fsu.edu/theses/available/etd-07012004-140557.
Full textAdvisor: Dr. Richard M. Morton, Florida State University, College of Business, Dept. of Accounting. Title and description from dissertation home page (viewed Sept. 23, 2004). Includes bibliographical references.
Chien-YuanChen and 陳介元. "The Impact of QE3 on Taiwan Stockholders’ Net Investment in Taiwan Stock Market." Thesis, 2014. http://ndltd.ncl.edu.tw/handle/17142365729381717427.
Full text國立成功大學
高階管理碩士在職專班(EMBA)
102
The research framework of this study was based on the “Behavioral Finance Theory”. This study analyzed investors’ behavior in Taiwan stock market and discussed the impacts from investment habits and investment preference. In addition, we also explored the impacts between investor characteristics and investors’ behavior. The questionnaire included three parts: investor characteristics, investment habits and investment preference. A total of 400 questionnaires were distributed & returned, 80 questionnaires were incomplete, and 320 questionnaires were valid. Finally, Eviews software was used to do statistical analysis and build the Linear Probability Model (LPM). The empirical results showed that: (1) Investor characteristics had a significant positive impact on investors’ behavior; (2) Investment habits had a significant positive impact on investors’ behavior; (3) Investment preference had a significant positive impact on investors’ behavior.
"Heterogeneous investors in stock market." Thesis, 2002. http://library.cuhk.edu.hk/record=b6073947.
Full textThis thesis consists of two related parts. In the first part, we develop a method to extract insider ownership information from insider transaction reporting files and by combining it with quarterly institutions holding report data, we obtain quarterly ownership structure for most common stocks listed in CRSP tape. We use ownership structure and quarterly ownership change to analyze how insiders, large institutions and individual investors differ from each other in their holding preference to stock characteristics and trading behavior. We find that, these three kinds of investors have significant difference in holding preference to size, price, monthly turnover, previous 12-months return. They also show significant difference in trading behaviors. Basically, institutions are momentum trader, and are interested in "growth" stocks. Insiders are anti-momentum trader, they sell more when past return is higher and they more focus on "value" stocks.
Zhu, Honghui.
"September 2002."
Source: Dissertation Abstracts International, Volume: 64-11, Section: A, page: 4150.
Supervisors: Jia He; Xiaoqiang Cai.
Thesis (Ph.D.)--Chinese University of Hong Kong, 2002.
Includes bibliographical references (p. 94-101).
Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web.
Electronic reproduction. Ann Arbor, MI : ProQuest dissertations and theses, [200-] System requirements: Adobe Acrobat Reader. Available via World Wide Web.
Abstracts in English and Chinese.
School code: 1307.
"A principal component approach to measuring investor sentiment in China." 2011. http://library.cuhk.edu.hk/record=b5894858.
Full text"August 2011."
Thesis (M.Phil.)--Chinese University of Hong Kong, 2011.
Includes bibliographical references (leaves 43-49).
Abstracts in English and Chinese.
Chapter 1. --- Introduction --- p.1
Chapter 2. --- Literature Review --- p.6
Chapter 2.1 --- Investor Sentiment Measures --- p.6
Chapter 2.2 --- Chinese Stock Market Overview --- p.13
Chapter 3. --- Chinese Investor Sentiment Measure --- p.16
Chapter 3.1 --- Data and Variables --- p.16
Chapter 3.2 --- Methodology --- p.21
Chapter 3.3 --- Empirical Results --- p.22
Chapter 3.4 --- Investor Sentiment Behavior --- p.24
Chapter 4. --- Threshold Autoregressive Model --- p.29
Chapter 4.1 --- Methodology --- p.29
Chapter 4.2 --- Estimated Results --- p.31
Chapter 4.3 --- Forecasting Performance --- p.36
Chapter 4.4 --- Trading Strategy --- p.38
Chapter 5. --- Conclusion --- p.41
References --- p.43
"Tunneling and going private: evidence from Hong Kong." 2010. http://library.cuhk.edu.hk/record=b5894374.
Full textThesis (M.Phil.)--Chinese University of Hong Kong, 2010.
Includes bibliographical references (leaves 58-61).
Abstracts in English and Chinese.
Chapter 1 --- Introduction --- p.1
Chapter 2 --- Literature review and hypothesis development --- p.5
Chapter 2.1 --- Going private --- p.5
Chapter 2.2 --- Tunneling and the expropriation of minority shareholders --- p.9
Chapter 2.3 --- Our hypotheses --- p.12
Chapter 3 --- Samples --- p.15
Chapter 3.1 --- Sample construction --- p.15
Chapter 3.2 --- Sample description --- p.16
Chapter 3.3 --- Corporate governance and financial variables --- p.18
Chapter 3.4 --- Related party transactions --- p.21
Chapter 4 --- Empirical analysis --- p.23
Chapter 4.1 --- Event study results --- p.23
Chapter 4.2 --- Negative premium --- p.34
Chapter 4.3 --- Insider trading --- p.37
Chapter 4.4 --- The decision to go private --- p.39
Chapter 4.4.1 --- Sample matching --- p.39
Chapter 4.4.2 --- Comparison between going private companies and public companies --- p.41
Chapter 4.5 --- Logit regression analysis on going private decision --- p.43
Chapter 4.6 --- The value effect of the bidding firms --- p.46
Chapter 5 --- Conclusion --- p.49
Chapter A --- Privatized companies included in the sample with announcement dates --- p.51
Chapter B --- Methodology of event study --- p.53
Chapter C --- Bidder companies --- p.55
Chapter D --- A list of definition of variables --- p.56
Reference --- p.58
"Construction of financial risk: a study of the stock market investors and their communicative practices." 2015. http://repository.lib.cuhk.edu.hk/en/item/cuhk-1290649.
Full text本論文研究上海的股票投資者是怎樣在傳播實踐中構建風險的意義的。很多研究將金融風險歸咎於投資者的貪婪或不專業的過度投機行為。為了進一步研究這一課題,本論文採取紮根理論的研究方法,構建一個詳實的關於上海投資者傳播實踐的案例。由此,本論文研究了當地投資者怎樣通過傳播實踐構建風險的意義以及不同的風險處境,並由此對投資者進行投機行為進行理論性的闡釋。本論文的數據收集時間為2012年至2014年,其中主要包括對4所上海的投資交易大廳的實地觀察,對35個投資者的訪談,以及12個深入訪談以及追踪觀察。研究發現,投資者將風險與對信息的正確性以及傳播速度的不確定性相關聯。理想狀態下,投資者通過獲取公共信息,專業解讀信息以將其轉化為導向性的信息,之後進行股票交易。然而,由於腐敗等問題,各類公共信息都產生了貶值,投資者被迫用更私人的方式傳播更準確的信息,以使自己能處於有利地位,並將對信息的確定性建立在其他投資者對信息的不確定性之上。專業主義被瓦解了,取而代之的是建立在人際關係之上的對內幕消息的傳播。投資者們也從專業的、長期的投資專為短期的投機。而那些處於不利地位的投資者所面臨的不確定性亦將反過來加諸於有利地位的投資者之上。儘管投機的體系將風險加諸於幾乎所有投資者之上,投資者仍繼續投機行為。本論文認為其原因是投資者被困於“風險矛盾”之中——投資者通過實踐來尋求保障,未曾意識到其實踐造成了自己乃至於經濟體系更大的風險。
Mao, Zhifei.
Thesis (Ph.D.)--Chinese University of Hong Kong, 2015.
Includes bibliographical references (leaves 203-222).
Abstracts also in Chinese.
Title from PDF title page (viewed on 15, September, 2016).
Detailed summary in vernacular field only.
Strydom, J. J. "The impact of regulatory fines on shareholder returns." Diss., 2014. http://hdl.handle.net/2263/43971.
Full textDissertation (MBA)--University of Pretoria, 2014
zkgibs2015
Gordon Institute of Business Science (GIBS)
MBA
Unrestricted
Liao, Ren-Jie, and 廖仁傑. "An Investigation of the Stockholders'' Equity Management Behavior Under Stock Dividend Policy-Before and After the Amended Company Law." Thesis, 2004. http://ndltd.ncl.edu.tw/handle/58262795495064855744.
Full text東吳大學
會計學系
92
The purpose of this study is to investigate the association between the company’s stock dividend policy and the arrangement of stockholder’s equity transaction. The sources that can be used as stock dividend in Taiwan are retained earnings and additional paid-in capital, but in 2001, the newly amended Company Law changes the sources of additional paid-in capital for stock dividend. The present research focuses on enterprises will manipulate the transaction that can increase the additional paid-in capital to execute the stock dividend policy, and the arrangement behavior will change hereafter the amended law. The sample is the event of Taiwan stock-listed and OTC companies, which announce dividend from 1991 to 2002. We discuss the company that stock dividend source was from additional paid-in capital will more aggressive than the other companies to execute the transaction that will increase the additional paid-in capital. The measure we use to analyze this question is parametric t test and non-parametric Mann-Whitney U differential test and Ordered Probit regression analysis. The research result reveals that, the company used the additional paid-in capital as the source of stock dividend is more aggressive in doing seasoned equity offering, asset revaluation and asset dispose activities than the other company before the amended Company Law. However, after the amended Company Law, the company that assign stock dividend from additional paid-in capital is still more aggressive in doing seasoned equity offering activity than the other company, yet there is no differences in asset revaluation and dispose activities. Second, the company that assigned additional paid-in capital from premium on common stock as stock dividend source was more aggressive in doing seasoned equity offering activity, but when the stock dividend source was from non-additional paid-in capital from premium on common stock, the company was more aggressive in doing asset revaluation and asset dispose activities before the amended Company Law. However, after the amended Company Law, the company that stock dividend source was from non-additional paid-in capital from premium on common stock was more aggressive in doing treasury stock activity. Third, highly stock dividend from additional paid-in capital payout rate company was more frequently in doing seasoned equity offering, asset revaluation, asset dispose and treasury stock activities before the amended Company Law. However, after the amended Company Law, highly stock dividend from additional paid-in capital payout rate company was more frequently in doing seasoned equity offering activity
Wang, Nai-Shan, and 王乃善. "The Stockholders’ Wealth Effect of Stock Dividends by Companies’ Announcement: The Roles of Investment Opportunities Hypothesis and Free Cash Flow Theory." Thesis, 2001. http://ndltd.ncl.edu.tw/handle/48268326714550362952.
Full text朝陽科技大學
財務金融系碩士班
89
The purpose of this study is trying to explain the shareholders’ wealth effect by investment opportunities hypothesis and free cash flow theory. On the whole samples, the market-price will increase by stock dividends of conpanies’ announcement. We also find that a company with good investment opportunities and announcing to distribute stock dividends will have a significantly positive return. On the contrary, a company with poor opportunities will have a significantly negative return. At the same time, our results also show that free cash flow theory plays an important role in explaining the positive marketable reaction by announcement of companies’ stock dividends. So our results support both the investment oppurtunities hypothesis and free cash flow theory. Under some other controlled variables(size and dividend yield), these effects still remain.
Jiang, Yen-jie, and 江彥節. "The Relationship of Stock Price Volatility and Stockholder Structure-The Empirical Analysis of Taiwan 50-Index Stocks." Thesis, 2005. http://ndltd.ncl.edu.tw/handle/00447272320609142061.
Full text世新大學
經濟學研究所(含碩專班)
93
Generally, the individual investor (small stockholder) is less able to gather and make use of information than the big stockholder. Therefore, the higher the proportion of a company’s stock held by small stockholders, the more likely there will be excessive adjustment in share prices. Most of the trading in the Taiwanese stock market is still done by small stockholders, so the Taiwanese market can be easily influenced by a simple disc effect causing stock prices to rise and fall suddenly. The Purpose of this research is to probe the relationship between shareholder structure and stock price volatility of stocks in the 50 Taiwanese Index. Data was collected for the six-year period, January 1, 1999 through December 31, 2004. OLS and pooled-least-squared analysis was used on mean values of the stock and on the panel data for the three most recent years. The empirical results are as follows. The lower the variation in operating earnings per share, the lower the variation in the stock price. Also, the greater the proportion of stock held by the government or institutional investors, the lower the variation in stock prices. The more stock held by individual investors or foreign investors, the greater stock price volatility. Finally, volatility is greater in the electronics industry than in the financial industry. Our conclusions are thus as follows: First, when operating earnings per share are steady, investors will be confident and there will be no overreaction phenomenon. Second, government and institutional investors have an advantage over individual investors in gathering and using information, and so they are less likely to overreact. There are more investors in the electronics industry, so the volatility in this industry is greater than in the financial industry.
Jong, Jiunn Hwa, and 鍾俊華. "The effect of stockholder''s change for stock stability." Thesis, 1995. http://ndltd.ncl.edu.tw/handle/44191593811178829653.
Full textYamada, Takeshi. "Investor heterogeneity, trading volume, and asset pricing." 1993. http://catalog.hathitrust.org/api/volumes/oclc/33030913.html.
Full text"Die Aktionärsrechte-Richtlinie auswirkungen auf das deutsche und europäische Recht /." Berlin : de Gruyter Recht, 2009. http://site.ebrary.com/id/10373650.
Full textEsterhuyse, Leana. "Voluntary disclosure, long-horizon investors and shareholder familiarity : an online investor relations perspective." Thesis, 2017. http://hdl.handle.net/10500/23727.
Full textFinancial Intelligence
Kiura, Dennis Kimakia. "A critical analysis of the protection of shareholders when a company acquires its own shares." Diss., 2012. http://hdl.handle.net/10500/6313.
Full textPrivate Law
(LL.M. (Company Law))
Mendonca, John. "Analyst statements, stockholder reactions, and banking relationships : do analysts' words matter?" 2009. http://hdl.handle.net/2152/10569.
Full texttext
Teng, Pi-Hua, and 鄧碧華. "The Effect of Stockholder’s Wealth after Preferred stock issuance of Taiwan Listed Firms." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/9s6hpt.
Full text國立高雄應用科技大學
金融系金融資訊碩士在職專班
104
This paper aims to explore the effects of preferred share issues by the companies listed on Taiwan Stock Exchange and Taipei Exchange on their firm values, so as to understand how the wealth of ordinary shareholders changes as a result. A total of 19 issuers of preferred shares are analyzed. An ANOVA test is conducted in order to compare the market capitalizations of these issues three years before the issuance of preferred shares and five years after the issuance of preferred shares. A comparison is also made on the issuing companies and their peers in the same industry in order to examine the effects on the market capitalizations of the issuers before and after the issuance of preferred shares. The empirical results indicate a significant reduction in (abnormal) shareholders’ wealth and cash dividend yields, following the issuance of preferred shares. This implies the adverse impact of preferred share issuance. However, there is no short-to-mid-term effect on (abnormal) shareholders’ wealth within two years post issuance.There is a negative short-to-mid-term effect on cash dividend yields. The abnormal shareholders’ wealth drops significantly in the mid-to-long term (three to five years post issuance). However, there is no such negative mid-to-long term effect on cash dividend yields. The research findings provide an explanation why preferred shares have been popular among Taiwanese investors over recent years.
Henderson, Andrew James. "Uncertificated shares : a comparative look at the voting rights of shareholders." Thesis, 2013. http://hdl.handle.net/10210/8662.
Full textIn order to promote sound corporate conduct, it is essential that shareholders actively participate in the governance of the company. The primary mechanism to achieve this lies in the shareholder’s right to vote at meetings. However, an analysis of the nature of shares, and the history surrounding the introduction and development of uncertificated shares in particular, reveals a structure that often interposes multiple nominees between the issuing company and the underlying investor. Such a structure has the potential to dispossess the underlying investor of his rights, which may have concomitant negative effects on the corporate governance of the company. A comparative study of the legal framework for uncertificated shares in the United States, the United Kingdom and South Africa reveals varying degrees of protection for the underlying investor. Unfortunately, none of these countries has resolved the problem completely, and it is suggested that a move to a direct, transparent holding model, where the underlying investor, rather than an intermediary, is recorded in a company’s share register, is a better solution.
HUANG, ZHI-GIANG, and 黃志強. "A empirical study on the relation ship of stockholder's tax rate and corporate's financial leverage in the Taiwan stock market." Thesis, 1987. http://ndltd.ncl.edu.tw/handle/61483214403569310339.
Full textHeapy, Stephanie Claire. "A company's share capital and the aquisition of its own shares : a critical comparison between the relevant provisions of the companies and act 71 of 1973 and the companies act 71 of 2008." Diss., 2010. http://hdl.handle.net/10500/4660.
Full textMercantile Law
LLM
"Asset price determination in the presence of noise traders: a reaction approach." 2000. http://library.cuhk.edu.hk/record=b5890411.
Full textThesis (M.Phil.)--Chinese University of Hong Kong, 2000.
Includes bibliographical references (leaves 109-110).
Abstracts in English and Chinese.
Abstract --- p.i
Acknowledgement --- p.iii
Table of Contents --- p.iv
List of Notations --- p.vi
List of Propositions --- p.vii
List of Figures --- p.viii
List of Appendices --- p.x
Chapter Chapter 1. --- Introduction - The Reaction Approach --- p.1
Chapter Chapter 2. --- Assumption for OLG Model --- p.7
Chapter 2.1 --- Assumption A --- p.7
Chapter Chapter 3. --- Equilibrium Conditions Without Fundamental Risk --- p.9
Chapter 3.1 --- Price as a Weighted Average --- p.9
Chapter 3.2 --- Determination of A and B --- p.11
Chapter 3.2.1 --- Assumption B --- p.12
Chapter 3.2.2 --- RE Line and NE Line --- p.13
Chapter 3.2.3 --- Equilibrium values of A and B --- p.14
Chapter 3.3 --- Rational Expectation on Price Variance (RV Line) --- p.16
Chapter 3.4 --- Noisy Expectation on Price Variance (NV Line) --- p.18
Chapter 3.4.1 --- DeLong's Model --- p.19
Chapter 3.4.2 --- Bhushan's Model --- p.21
Chapter 3.5 --- Change in Relative Perceived Variance --- p.23
Chapter 3.5.1 --- General Problem of OLG Model in Noisy Trading --- p.23
Chapter 3.5.2 --- Changes in Noise Traders' Beliefs --- p.24
Chapter 3.5.3 --- "Relative Perceived Price Variance of n, θ" --- p.25
Chapter 3.5.3.1 --- "Effect of Increasing θ on Price Variance, dC/dθ" --- p.26
Chapter 3.5.3.2 --- "Effect of Increasing θ on Expected Price Level, dp/dθ" --- p.27
Chapter Chapter 4. --- Equilibrium Conditions With Fundamental Risk --- p.31
Chapter 4.1 --- Price as a Weighted Average --- p.32
Chapter 4.2 --- Determination of A and B --- p.34
Chapter 4.2.1 --- Assumption C --- p.34
Chapter 4.2.2 --- RE Line and NE Line --- p.35
Chapter 4.2.3 --- Equilibrium values of A and B --- p.36
Chapter 4.3 --- Rational Expectation on return Variance (RV Line) --- p.37
Chapter 4.4 --- Noisy Expectation on Return Variance (NV Line) --- p.40
Chapter 4.4.1 --- De Long's Model --- p.41
Chapter 4.4.2 --- Bhushan's Model --- p.42
Chapter 4.5 --- Change in Relative Perceived Return Variance --- p.45
Chapter 4.5.1 --- Specification of Noisy Expectation --- p.46
Chapter 4.5.2 --- Relative Perceived Return Variance of n,Θ --- p.46
Chapter 4.5.2.1 --- "Effect of Increasing Θ on Price Variance, dC/dΘ" --- p.47
Chapter 4.5.2.2 --- "Effect of Increasing Θ on Expected Price Level, dp/dΘ" --- p.48
Chapter 4.6 --- Relative Perceived Price Risk versus Relative Perceived Dividend Risk --- p.52
Chapter Chapter 5. --- Conclusion and Discussion --- p.55
Figures --- p.58
Appendices --- p.86
References --- p.109
Hillis, Kevin Ross. "The appraisal remedy and the determination of fair value by the courts." Diss., 2014. http://hdl.handle.net/10500/13347.
Full textMercantile Law
LL.M. (Corporate law)
Tavares, Marques Ana Cristina de Oliveira. "SEC interventions and the frequency and usefulness of non-GAAP financial measures." Thesis, 2005. http://hdl.handle.net/2152/2340.
Full text