First, it increases our understanding of the SEO announcement effect
and postissue long run underperformance by providing new evidence for the agency explanation.
Youngblood attributes the sharp run-up in interest rates in 2013 to "the announcement effect
, whereby the market prematurely expected the Fed to start assets sales and move from accommodation to a restrictive monetary policy.
The increase in noise raises the tax option value of the stock and it is this value that generates the announcement effect
of stock splits.
Conservatives demand fiscal austerity, the announcement effect
of which will somehow attract global capital.
If there is significant announcement effect
of the stock prices, the null hypothesis of equal mean is rejected in favour of alternative hypothesis of equal mean.
Recently, CLR have presented evidence from a six-factor term structure model that indicates that the announcement effect
of the TAF had a very large effect on the LIBOR rate.
The G-7) rather aimed to have an announcement effect
,'' he said, referring to the possible impact on markets, which could discourage investors from betting on the yen one-sidedly.
The studies related to dividends in Malaysia considered did not focus on the announcement effect
of the specially designated dividends, but regular dividends.
The average announcement effect
is significantly more negative for mergers of overconfident CEOs (-90 basis points) than for those of their non-overconfident peers (-12 basis points).
In this article we document a positive announcement effect
when a publicly traded company discloses that it has partially or fully frozen its DB plan and replaced it with--or enhanced--the 401(k) defined contribution (DC) plan.
In India Gupta and Gupta (2007) studied split event from 1999 to 2004 taking 60 stocks and find a mixed announcement effect
Markets are fragile at the moment and there was a visible announcement effect
-- markets afraid that as liquidity is mopped up, then some risk appetite may go with it," said Adam Carr, senior economist at ICAP Australia.