| Author: | Chan, Wing-kwong Ringo |
| Title: | Evaluation of the relationship between stock prices and earnings announcements by listed companies in Hong Kong |
| Degree: | M.B.A. |
| Year: | 1995 |
| Subject: | Stocks -- Prices -- China -- Hong Kong Corporate profits -- China -- Hong Kong Corporations -- China -- Hong Kong Hong Kong Polytechnic University -- Dissertations |
| Department: | Department of Management |
| Pages: | vii, 72 leaves ; 30 cm |
| Language: | English |
| Abstract: | This study examines the market's reaction to earnings announcements by the listed companies in the Hong Kong Stock Exchange . The earnings announcements were not found to generate a significant market reaction . Such a result is not consistent with the semi-strong form market efficiency . in that the price adjustment to publicly available information is immediate. Based on the findings in this study . Hong Kong Stock Exchange is a less than semi-strong form efficient market. The evidence found in the Hong Kong Stock market concerning the earnings announcement is different from the U.S. market which is a semi-strong efficient market . The response to the earnings announcement is not generally related to the firm size . The result of this study reveals that the market reactions by the Hang Seng Index shares and Non Hang Seng Index shares show similar overall results. |
| Rights: | All rights reserved |
| Access: | restricted access |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| b14834005.pdf | For All Users (off-campus access for PolyU Staff & Students only) | 2.2 MB | Adobe PDF | View/Open |
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