文章基本信息

标题：Impact of Public Announcements on Stock Prices: Relation between Values of Stock Prices and the Price Changes in Lithuanian Stock Market
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作者：Jurgita Stankevičienė ; Jurgita Stankevičienė ; Simas Akelaitis 等
期刊名称：Procedia - Social and Behavioral Sciences
印刷版ISSN：1877-0428
出版年度：2014
卷号：156
页码：538-542
DOI：10.1016/j.sbspro.2014.11.236
语种：English
出版社：Elsevier
摘要：AbstractThe previous studies have shown that there is a relation between values of stock prices and the price changes caused by public announcements. Thus the aim of this paper is to examine if the respective relation can be observed in Lithuanian stock market and how this relation is affected by different categories and types of announcements. The research covers public announcements issued by companies listed in Vilnius Stock Exchange. Simplified version of event study methodology was used in this paper and average absolute and abnormal returns were computed. Most of the results in this paper are consistent with the previous studies and a negative correlation between the values of stock prices and the price changes caused by public announcements was estimated.
关键词：Public announcements;stock market;abnormal returns;stock prices.