ARTÍCULO
TITULO

The Effect of Investor Sentiment toward an Exchange Merger on Liquidity

Takanori Hisada    

Resumen

This study investigates the relationships among an exchange merger, investor sentiment, and liquidity by analyzing data from the 2013 merger of the Tokyo Stock Exchange and Osaka Securities Exchange. In contrast to prior studies, this study considers the investor sentiment e?ect of the merger. Synergy and the investor sentiment e?ect occur in the short run with liquidity increases. The investor sentiment e?ect occurs more strongly in small stocks.Keywords: Investor sentiment, Exchange merger, LiquidityJEL Classifications: G40, G10, G19

 Artículos similares

       
 
Shireen Mahmoud Al-Ali     Pág. 24 - 28
The study seeks to show the effect of dividend distributions on the market share price of Jordanian Islamic financial companies for the period 2010-2018, as represented by (Jordan Islamic Bank, Arab International Islamic Bank, Al-Safwa Islamic Bank, Firs... ver más

 
Enda Noviyanti Simorangkir, Teguh Hakim Prajoggi, Enzelina Enzelina, Edo Hasugian, Desy Desy     Pág. 82 - 89
In investing capital an investor needs a company's financial statements that will help in making investment decisions. This study aims to analyze and test the effect of the current ratio, debt to equity ratio, return on assets on dividend payout ratios i... ver más

 
Arisky Andrinaldo, Husaini Husaini, Darman Usman, Ronal Aprianto     Pág. 396 - 403
In investing in capital markets, an investor needs to consider the expected level of return (Return). This study aims to examine whether financial performance (net income, NOPAT, EPS), EVA, and MVA significantly influence stock returns. The object of thi... ver más

 
Gulzar Ali,Ansa Javed Khan,Sara Rafiq     Pág. 198 - 203
The Initial Public Offering (IPO) underpricing in the stock market is considered an important factor to attract the investor towards the stock. In this study in addition to IPO the economic analysis of underpricing is investigated to examine economic eff... ver más

 
Shuibin Gu,Regina Naa Amua Dodoo     Pág. 444 - 454
Annual report readability is necessary to prevent the imbalanced flow of information and enhance stakeholders? view of the firm. For that reason, it is crucial to examine the factors than can affect it. This study attempts to find the impact of firm perf... ver más