Corporate Event

Keunsoo Kim and Jinho Byun

Chapter 5 in Analysis of the Korean Stock Market:Behavioral Finance Approaches, 2018, pp 161-192 from World Scientific Publishing Co. Pte. Ltd.

Abstract: We examine stock-price movements around the announcement of corporate events such as IPOs, SEOs, stock splits, share repurchases, and dividend payments. According to the efficient market hypothesis (EMH), stock price reacts to new information fully and instantaneously. Thus, it is difficult to earn abnormal returns using an investment strategy based on corporate events. However, many researchers claim that the markets under- or overrespond to the information from a behavioral perspective. Thus, we summarize market behavior related to the announcement of corporate events in Korea…

Keywords: Korean Stock Market; Market Predictability; Trading Behavior; Seasonal Effect; Cross-Sectional Anomalies; Industry Analysis; History of Korean Stock Market (search for similar items in EconPapers)
JEL-codes: P33 (search for similar items in EconPapers)
Date: 2018
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