1. UKM Learning and Research Repository
  2. Journal Article / Artikel Jurnal
  3. Journal Content Pages/ Kandungan Halaman Jurnal
Please use this identifier to cite or link to this item: https://ptsldigital.ukm.my/jspui/handle/123456789/577573
Full metadata record
DC FieldValueLanguage
dc.contributor.authorAbdul Rahim N. (UPM)
dc.contributor.authorAbdul Rahman F. (UPM)
dc.date.accessioned2023-11-06T02:45:28Z-
dc.date.available2023-11-06T02:45:28Z-
dc.date.issued2015-09
dc.identifier.issn0128-7702
dc.identifier.otherukmvital:77940
dc.identifier.urihttps://ptsldigital.ukm.my/jspui/handle/123456789/577573-
dc.descriptionThis paper examines the market reaction to hybrid security announcements in an emerging country, specifically Malaysia, from January 1996 to December 2009. The results indicated that announcements of the intention to issue convertible bonds in Malaysia are significantly associated with negative abnormal returns of 1.10% (significant at the 10% level) on the event window of (-1, 1). On the other hand, announcements of the intention to issue warrant-bonds document significantly positive abnormal returns of 2.25% (significant at the 5% level) on the same event window. The ‘univariate’ test confirmed that the wealth effect associated with the announcement of the intention to issue warrant-bonds is larger (i.e., more positive) than convertible bonds, in line with a few studies conducted in different markets. The findings of this study highlight that listed firms with high risk uncertainty in Malaysia contribute to more negative abnormal returns in comparison to lower risk uncertainty firms.
dc.language.isoen
dc.publisherUniversiti Putra Malaysia Press
dc.relation.haspartPertanika Journal of Social Sciences & Humanities
dc.relation.urihttp://www.pertanika.upm.edu.my/Pertanika%20PAPERS/JSSH%20Vol.%2023%20(S)%20Sep.%202015/12%20JSSH%20Vol%2023%20(S)%20Sept%202015_pg187-204%20(JSSH(S)-0028-2015).pdf
dc.subjectEvent study
dc.subjectConvertible bonds
dc.subjectWarrant-bonds
dc.subjectEmerging country
dc.titleWealth effects associated with announcements of hybrid securities in an emerging country: evidence from Malaysia
dc.typeJournal Article
dc.format.volume23
dc.format.pages187-204
dc.format.issueSpecial Issue
Appears in Collections:Journal Content Pages/ Kandungan Halaman Jurnal

Files in This Item:
File Description SizeFormat 
ukmvital_77940+Source01+Source010.PDF325.5 kBAdobe PDFThumbnail
View/Open
Show simple item record Recommend this item


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.