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 period of t...
| Main Authors: | , |
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| Format: | Working Paper |
| Language: | English |
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Universiti Malaysia Sarawak, (UNIMAS)
2011
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| Online Access: | http://ir.unimas.my/id/eprint/3252/ http://ir.unimas.my/id/eprint/3252/1/White%20Collar.pdf |
| _version_ | 1848835171396091904 |
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| author | Wei, Samuel Siew Liew Puah, Chin-Hong |
| author_facet | Wei, Samuel Siew Liew Puah, Chin-Hong |
| author_sort | Wei, Samuel Siew Liew |
| 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 | 2025-11-15T06:03:38Z |
| format | Working Paper |
| id | unimas-3252 |
| institution | Universiti Malaysia Sarawak |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T06:03:38Z |
| publishDate | 2011 |
| publisher | Universiti Malaysia Sarawak, (UNIMAS) |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | unimas-32522022-01-13T06:44:44Z http://ir.unimas.my/id/eprint/3252/ White-Collar Crime and Stock Return: Empirical Study from Announcement Effect Wei, Samuel Siew Liew Puah, Chin-Hong AC Collections. Series. Collected works H Social Sciences (General) HB Economic Theory 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. Universiti Malaysia Sarawak, (UNIMAS) 2011 Working Paper NonPeerReviewed text en http://ir.unimas.my/id/eprint/3252/1/White%20Collar.pdf Wei, Samuel Siew Liew and Puah, Chin-Hong (2011) White-Collar Crime and Stock Return: Empirical Study from Announcement Effect. [Working Paper] |
| spellingShingle | AC Collections. Series. Collected works H Social Sciences (General) HB Economic Theory Wei, Samuel Siew Liew Puah, Chin-Hong 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 | AC Collections. Series. Collected works H Social Sciences (General) HB Economic Theory |
| url | http://ir.unimas.my/id/eprint/3252/ http://ir.unimas.my/id/eprint/3252/1/White%20Collar.pdf |