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Articles 31 - 33 of 33
Full-Text Articles in Finance
The Ex-Dividend Day Stock Price Behavior: Evidence From Pakistan, Sana Tauseef, Mohammad Nishat
The Ex-Dividend Day Stock Price Behavior: Evidence From Pakistan, Sana Tauseef, Mohammad Nishat
Business Review
The paper examines the ex-dividend day price behavior of the listed stocks in Karachi Stock Exchange for the period January 2009 to June 2010. During the examined period, there was no capital gain tax; however a 10% withholding tax applied on dividends. We use the standard event study methodology to examine the abnormal returns for days surrounding the exdividend day. The study reports a very low price drop ratios compared to their theoretical values. No significant excess returns are found on the exdividend day; however, significant positive abnormal returns are observed in the pre-event window and negative excess returns are …
G-20 Summit And Debt Crisis Of Europe, Badar Alam Iqbal
G-20 Summit And Debt Crisis Of Europe, Badar Alam Iqbal
Business Review
Europe is under debt threat, facing the biggest crisis of uncertainty. If Euro fails, Europe fails. Since the Second World War, this is the hardest hour for Europe. One of the biggest limitations of global integration of EU is that small and weak countries could not fall in line with strong economies. This crisis is the example in this regard. The recent summit at Cannes has failed in giving concrete solution to the debt crisis especially in case of Greece, Italy, Portugal, Ireland and Spain. The crisis in Greece and ltaly cost the resignations of two popular Prime Ministers. The …
The Casual Link Between Stock Returns And Trading Volume: Some Evidence From An Emerging Market, Abdul Rashid
The Casual Link Between Stock Returns And Trading Volume: Some Evidence From An Emerging Market, Abdul Rashid
Business Review
This paper investigates the dynamic association between daily stock index returns and percentage trading volume changes. To proceed with this, linear and nonlinear Granger causality tests are applied to the Karachi Stock Exchange (KSE) data. The analysis covers the span of about 5 years with 1266 daily observations. The same methodology is employed for two non-overlapping sub-periods to examine the robustness of the results. Unidirectional linear Granger causality from stock returns to trading volume is observed for the entire sample period and for both the sub-periods as well. The null hypothesis of linear Granger noncausality from percentage volume changes to …