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  • 标题:THE IMPACT OF FINANCIAL STATEMENTS ANNOUNCEMENTS ON STOCK PRICES AT BSE
  • 本地全文:下载
  • 作者:Zoicas-Ienciu, Adrian
  • 期刊名称:Theoretical and Applied Economics
  • 印刷版ISSN:1841-8678
  • 电子版ISSN:1844-0029
  • 出版年度:2008
  • 卷号:11(528)(supplement)
  • 期号:11(528)(supplement)
  • 页码:211-219
  • 出版社:Asociatia Generala a Economistilor din Romania - AGER
  • 摘要:Conceived as an empirical study, the paper investigates investors’ behavior as a reaction to the publication of financial statements by the main companies listed on Bucharest Stock Exchange (B.S.E.). Starting from the general framework of an event study analysis (ESA), the empirical research is doubled by two personal contributions to the ESA methodology represented by a parameters’ generalization module and one for optimizing internal variables. This modified methodology was run using personally-developed software (EvStud1.1), the main conclusion, inferred from a sample of 313 events, being the significant impact of financial statements’ publication on stock prices.
  • 关键词:stock market; event study analysis; empirical research; informational efficiency; optimization.
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