The Trading Stock Valuation Adjustment: Some Extensions and Modifications
Michael Aitken and
Terry Walter ()
Australian Journal of Management, 1985, vol. 10, issue 1, 77-95
Abstract:
This paper seeks independent confirmation of the research conclusions reached by Sinclair and Whittred (1982) regarding a capital market reaction to the introduction of the Trading Stock Valuation Adjustment (TSVA). This analysis extends and modifies that research and uses the date of the subsequent withdrawal of the TSVA to test for evidence of any reversal impact on the stock prices of the firms initially affected. We are unable to document such evidence.
Keywords: TSVA; MARKET EFFICIENCY; REVERSAL (search for similar items in EconPapers)
Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ausman:v:10:y:1985:i:1:p:77-95
DOI: 10.1177/031289628501000106
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