White Collar Crime and Stock Return Empirical Study from Announcement Effect
White-collar crime continues to hit the headlines across Malaysia and it remains a serious issue influencing organizations globally. A share price event study is thus conducted on a group of public listed companies in Malaysia to examine the announcement effect of white-collar crime. The perio...
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| Format: | Article |
| Language: | English |
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Medwell Journals
2016
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| Subjects: | |
| Online Access: | http://ir.unimas.my/id/eprint/13106/ http://ir.unimas.my/id/eprint/13106/1/White%20collar.pdf |
| _version_ | 1848837340284321792 |
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| author | Liew, Samuel Wei-Siew Puah, Chin Hong Harry, Entebang |
| author_facet | Liew, Samuel Wei-Siew Puah, Chin Hong Harry, Entebang |
| author_sort | Liew, Samuel Wei-Siew |
| building | UNIMAS Institutional Repository |
| collection | Online Access |
| description | White-collar crime continues to hit the headlines across Malaysia and it remains a serious issue influencing organizations globally. A share price event study is thus
conducted on a group of public listed companies in Malaysia to examine the announcement effect of white-collar crime. The period of the study is from 1996 to 2010, covering both the Asian Financial Crisis in 1997/98 and the sub-prime mortgage crisis in 2008/09. Results indicate the existence of significant negative abnormal share price reaction on 10 trading days subsequent to the day of
announcement. It means that the stock market in Malaysia is not efficient. However, it implies that the market possesses the power to discipline unethical companies as the
shareholders drive down their value by disposing their stocks following the announcement. |
| first_indexed | 2025-11-15T06:38:06Z |
| format | Article |
| id | unimas-13106 |
| institution | Universiti Malaysia Sarawak |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T06:38:06Z |
| publishDate | 2016 |
| publisher | Medwell Journals |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | unimas-131062022-02-08T01:39:38Z http://ir.unimas.my/id/eprint/13106/ White Collar Crime and Stock Return Empirical Study from Announcement Effect Liew, Samuel Wei-Siew Puah, Chin Hong Harry, Entebang H Social Sciences (General) White-collar crime continues to hit the headlines across Malaysia and it remains a serious issue influencing organizations globally. A share price event study is thus conducted on a group of public listed companies in Malaysia to examine the announcement effect of white-collar crime. The period of the study is from 1996 to 2010, covering both the Asian Financial Crisis in 1997/98 and the sub-prime mortgage crisis in 2008/09. Results indicate the existence of significant negative abnormal share price reaction on 10 trading days subsequent to the day of announcement. It means that the stock market in Malaysia is not efficient. However, it implies that the market possesses the power to discipline unethical companies as the shareholders drive down their value by disposing their stocks following the announcement. Medwell Journals 2016 Article PeerReviewed text en http://ir.unimas.my/id/eprint/13106/1/White%20collar.pdf Liew, Samuel Wei-Siew and Puah, Chin Hong and Harry, Entebang (2016) White Collar Crime and Stock Return Empirical Study from Announcement Effect. The Social Sciences, 11 (6). pp. 1079-1085. ISSN 1818-5800 https://www.researchgate.net/publication/228422003_White-collar_crime_and_stock_return_Empirical_study_from_announcement_effect |
| spellingShingle | H Social Sciences (General) Liew, Samuel Wei-Siew Puah, Chin Hong Harry, Entebang White Collar Crime and Stock Return Empirical Study from Announcement Effect |
| title | White Collar Crime and Stock Return Empirical Study from Announcement Effect |
| title_full | White Collar Crime and Stock Return Empirical Study from Announcement Effect |
| title_fullStr | White Collar Crime and Stock Return Empirical Study from Announcement Effect |
| title_full_unstemmed | White Collar Crime and Stock Return Empirical Study from Announcement Effect |
| title_short | White Collar Crime and Stock Return Empirical Study from Announcement Effect |
| title_sort | white collar crime and stock return empirical study from announcement effect |
| topic | H Social Sciences (General) |
| url | http://ir.unimas.my/id/eprint/13106/ http://ir.unimas.my/id/eprint/13106/ http://ir.unimas.my/id/eprint/13106/1/White%20collar.pdf |