The Adjustment of security prices to the release of stock dividend/rights offering information

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buir.advisorAydoğan, Kürşat
dc.contributor.authorÇadırcı, Begüm
dc.date.accessioned2016-01-08T20:20:53Z
dc.date.available2016-01-08T20:20:53Z
dc.date.issued1990
dc.departmentDepartment of Managementen_US
dc.descriptionAnkara : The Department and the Graduate School of Business Administration of Bilkent University, 1990.en_US
dc.descriptionThesis -- Bilkent University, 1990en_US
dc.descriptionIncludes bibliographical references leaves 34-35.en_US
dc.description.abstractThis study investiga.tes market adjustment to the release of stock dividend/rights offering information for the stocks listed in IMKB First market for the period 1986-1989. The adjustment of security prices is analyzed in the context of a market model which takes market related factors into account. Direction and speed of adjustment are measured through residual analysis. Weekly security returns are regressed against returns in the market to find average and cumulative residuals around the event date. The regression model and beta coefficients are found to be significant. The results indicate that the adjustment process is slow and positive cumulative average abnormal returns are observed after the event date. This leads to the rejection of market efficiency in semi strong sense and possibility of an above normal profit.en_US
dc.description.degreeM.B.Aen_US
dc.description.statementofresponsibilityÇadırcı, Begümen_US
dc.format.extent1 volume (various pagings)en_US
dc.identifier.itemidBILKUTUPB003063
dc.identifier.urihttp://hdl.handle.net/11693/18614
dc.language.isoEnglishen_US
dc.publisherBilkent Universityen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectSemi strong form market efficiencyen_US
dc.subjectAverage abnormal returnsen_US
dc.subjectCumulative average abnormal returnsen_US
dc.subjectEvent dateen_US
dc.subject.lccHG4637 .C124 1990en_US
dc.subject.lcshStock price forecasting.en_US
dc.subject.lcshMonetary policy.en_US
dc.subject.lcshPortfolio management.en_US
dc.subject.lcshInterest rates.en_US
dc.titleThe Adjustment of security prices to the release of stock dividend/rights offering informationen_US
dc.typeThesisen_US
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