Wealth Effect Of International Investment Announcements: Evidence From Developing Market
This research provides evidence on the efficiency of one of the fastest developing and largest emerging securities market (Kuala Lumpur Stock Exchange, KLSE) in the Asia Pacific rim with respect to foreign investment announcements. Specifically, our study focuses on international investment annou...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Asian Academy of Management (AAM)
2006
|
| Subjects: | |
| Online Access: | http://eprints.usm.my/35852/ http://eprints.usm.my/35852/1/AAMJ_11-1-3.pdf |
| _version_ | 1848877738290577408 |
|---|---|
| author | Amin Noordin, Bany Ariffin Mat Nor, Fauzias |
| author_facet | Amin Noordin, Bany Ariffin Mat Nor, Fauzias |
| author_sort | Amin Noordin, Bany Ariffin |
| building | USM Institutional Repository |
| collection | Online Access |
| description | This research provides evidence on the efficiency of one of the fastest developing and
largest emerging securities market (Kuala Lumpur Stock Exchange, KLSE) in the Asia
Pacific rim with respect to foreign investment announcements. Specifically, our study
focuses on international investment announcements made in 1990 through 2000 for firms
listed on the main board of the KLSE of Malaysia. The result shows that the
announcements of foreign investment produce a significant positive daily abnormal
return surrounding the event period. This implies that foreign investment announcements
made by listed Malaysian firms do contain new relevant information which may creates
market movements. At the same time, since the reaction is significantly positive, this
implies that investors generally favor the international investment efforts of Malaysian
firms listed at KLSE. In addition, it is also discovered that the economic development of
the target country does influence the wealth creation process. |
| first_indexed | 2025-11-15T17:20:13Z |
| format | Article |
| id | usm-35852 |
| institution | Universiti Sains Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T17:20:13Z |
| publishDate | 2006 |
| publisher | Asian Academy of Management (AAM) |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | usm-358522017-07-25T08:47:14Z http://eprints.usm.my/35852/ Wealth Effect Of International Investment Announcements: Evidence From Developing Market Amin Noordin, Bany Ariffin Mat Nor, Fauzias HD28-70 Management. Industrial Management This research provides evidence on the efficiency of one of the fastest developing and largest emerging securities market (Kuala Lumpur Stock Exchange, KLSE) in the Asia Pacific rim with respect to foreign investment announcements. Specifically, our study focuses on international investment announcements made in 1990 through 2000 for firms listed on the main board of the KLSE of Malaysia. The result shows that the announcements of foreign investment produce a significant positive daily abnormal return surrounding the event period. This implies that foreign investment announcements made by listed Malaysian firms do contain new relevant information which may creates market movements. At the same time, since the reaction is significantly positive, this implies that investors generally favor the international investment efforts of Malaysian firms listed at KLSE. In addition, it is also discovered that the economic development of the target country does influence the wealth creation process. Asian Academy of Management (AAM) 2006 Article PeerReviewed application/pdf en http://eprints.usm.my/35852/1/AAMJ_11-1-3.pdf Amin Noordin, Bany Ariffin and Mat Nor, Fauzias (2006) Wealth Effect Of International Investment Announcements: Evidence From Developing Market. Asian Academy of Management Journal (AAMJ), 11 (1). pp. 1-17. ISSN 1394-2603 http://web.usm.my/aamj/11.1.2006/AAMJ%2011-1-3.pdf |
| spellingShingle | HD28-70 Management. Industrial Management Amin Noordin, Bany Ariffin Mat Nor, Fauzias Wealth Effect Of International Investment Announcements: Evidence From Developing Market |
| title | Wealth Effect Of International Investment
Announcements: Evidence From
Developing Market |
| title_full | Wealth Effect Of International Investment
Announcements: Evidence From
Developing Market |
| title_fullStr | Wealth Effect Of International Investment
Announcements: Evidence From
Developing Market |
| title_full_unstemmed | Wealth Effect Of International Investment
Announcements: Evidence From
Developing Market |
| title_short | Wealth Effect Of International Investment
Announcements: Evidence From
Developing Market |
| title_sort | wealth effect of international investment
announcements: evidence from
developing market |
| topic | HD28-70 Management. Industrial Management |
| url | http://eprints.usm.my/35852/ http://eprints.usm.my/35852/ http://eprints.usm.my/35852/1/AAMJ_11-1-3.pdf |