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Joint Announcement Effects on Share Price - A Study on Nordic Exchanges

Pruksananonda, Prapinya; Ning, Xia and Akesson, Timmy (2009)
Department of Business Administration
Abstract
The objective of this thesis is to investigate to what extent the information content in the joint dividend and earnings announcement affect share price reactions in the NASDAQ OMX Nordic Stock Exchange during the period of 2006-2008. Further, this study examines the financial performance of the companies in subsequent period to the announcement. OLS regression models from market-based and accounting data combined with analyzing of financial figures is used to arrive at the result. The study concludes that the joint dividend and earnings announcement has diminutive effect on the share price. Moreover, the relation between announcement and future financial performance is inconclusive for OMXN on the period of 2006 to 2008.
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@misc{1437481,
  abstract     = {The objective of this thesis is to investigate to what extent the information content in the joint dividend and earnings announcement affect share price reactions in the NASDAQ OMX Nordic Stock Exchange during the period of 2006-2008. Further, this study examines the financial performance of the companies in subsequent period to the announcement. OLS regression models from market-based and accounting data combined with analyzing of financial figures is used to arrive at the result. The study concludes that the joint dividend and earnings announcement has diminutive effect on the share price. Moreover, the relation between announcement and future financial performance is inconclusive for OMXN on the period of 2006 to 2008.},
  author       = {Pruksananonda, Prapinya and Ning, Xia and Akesson, Timmy},
  keyword      = {Dividend,Stock Returns,Cumulative Abnormal Return,Signaling Theory,Information Asymmetry,Behavioral of Dividend,Efficient Market Hypothesis,Financial Performance,Management of enterprises,Företagsledning, management},
  language     = {swe},
  note         = {Student Paper},
  title        = {Joint Announcement Effects on Share Price - A Study on Nordic Exchanges},
  year         = {2009},
}