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Do Malaysian Spin-Offs Create Value? - Nadisah Zakaria

English
2018-10-17
€84.52 €120.74

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This book primarily investigates the short- and long-run share return performance of Malaysian spin-off firms during the period January 1980 to April 2011. Using daily and monthly data, the study examines the performance of spin-off firms against the benchmarks of Malaysian All-Shares indices. The results show that parent firms significantly outperformed the market during the few days surrounding the announ ... Full description

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Description

This book primarily investigates the short- and long-run share return performance of Malaysian spin-off firms during the period January 1980 to April 2011. Using daily and monthly data, the study examines the performance of spin-off firms against the benchmarks of Malaysian All-Shares indices. The results show that parent firms significantly outperformed the market during the few days surrounding the announcement date even after adjustment for size. In the long-run analysis over three years, however, and after allowing for size, this research failed to find abnormal performance for either parents or spun-off entities. Overall, the results of the research allow us to plausibly argue that the market anticipates both increased value for parent shareholders and potential exploitable stock market inefficiency in the short-run period but not in the long-run.

More Information

Author Nadisah Zakaria
Publisher LAP LAMBERT Academic Publishing
Release year 2018
Cover type Softcover
EAN 9783659673771
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€84.52 €120.74