Corporate governance, violations and market reactions

Kouwenberg, Roy; Phunnarungsi, Visit

doi:10.1016/j.pacfin.2012.06.006

Cited by 25 publications

(8 citation statements)

References 23 publications

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“…() examine the stock market reaction to the Chinese split share reform. Kouwenberg and Phunnarungsi () provide an analysis of market reaction to corporate governance violations. Brown and Davis () discuss the optimal design of off‐market share repurchases, while Akyol et al .…”

Section: Relevance To Practicementioning

confidence: 99%

Fifty years of finance research in the Asia Pacific Basin

Benson

Faff

Smith

2014

Accounting & Finance

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In this paper, we review the history of scholarly finance research in the Asia Pacific Basin. We do this by analysing the four leading regional finance journals -Accounting and Finance, Australian Journal of Management, International Review of Finance and the Pacific-Basin Finance Journalalong five dimensions. The five dimensions are the most cited papers, noted authors, impact in terms of practice, research areas and a breakdown in terms of the development of the field according to Kuhnian concepts of normal science, anomalies and extraordinary science. We show that the Asia Pacific journals make a crucial contribution to research and practice both in the region and internationally.

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Section: Relevance To Practicementioning

confidence: 99%

Fifty years of finance research in the Asia Pacific Basin

Benson

Faff

Smith

2014

Accounting & Finance

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“…This is due to the lack of effective monitoring by the board since the chairman is also the CEO of the company. A more recent study in Thailand by Kouwenberg and Phunnarungsi (2013) also found that the market reaction to the company in Thailand enforcement action is less serious when there is separation between the chairman and CEO of the company. Based on the findings of previous studies, this study expects the following relationship:…”

Section: Board Independence and Public Reprimandmentioning

confidence: 96%

Corporate Governance and Public Reprimand

Embong

Radzi²

2017

AJAG

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“…Song and Han (2017) examined the impact of corporate crime on the stock market in South Korea and found negative reactions to stock prices around the announcements. They found no significant difference in reactions between announcements of individual and organisational crimes followed the inferences of Kouwenberg and Phunnarungsi (2013). In Germany, Ewelt-Knauer et al (2015) indicated that shareholder wealth decreases more if at least one board member resigns due to the fraud case.…”

Section: Introductionmentioning

confidence: 95%

Reaction of Stock Price to Frauds’ Announcements: Evidence from Indian Banking Sector

Sharma

Verma

2020

Asia-Pacific Journal of Management Research and Innovation

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This paper is an attempt to investigate the reaction of stock price of Indian banks with respect to announcements of frauds. The Event Study Methodology is used to examine the impact of frauds’ announcements to stock price of banks which experienced fraud. The fraud cases which exceed ₹1,000 crores are considered for the period from January 2014 to December 2018. The results indicate that the fraud announcements do affect the stock price of banks which experienced fraud. In majority of cases of frauds under consideration, the study found significant abnormal loss which further supported by the results of abnormal volume ratio. The highest abnormal loss is found in the stock price of Punjab National Bank (8.74 per cent) which involves the scam committed by the Nirav Modi. Due to increased frauds in the banking sector, the confidence of the investors adversely affects which may further lead to consequences on concerned banks. In this direction, the results of the study have importance for the policy makers and regulators for analysing the behaviour of stock price with respect to the announcements of frauds in the Indian banking sector.

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Corporate governance, violations and market reactions

Cited by 25 publications

References 23 publications

Fifty years of finance research in the Asia Pacific Basin

Fifty years of finance research in the Asia Pacific Basin

Corporate Governance and Public Reprimand

Reaction of Stock Price to Frauds’ Announcements: Evidence from Indian Banking Sector

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