The Experts below are selected from a list of 152235 Experts worldwide ranked by ideXlab platform
Ulf Nielsson - One of the best experts on this subject based on the ideXlab platform.
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Stock Exchange merger and liquidity the case of euronext
Journal of Financial Markets, 2009Co-Authors: Ulf NielssonAbstract:The paper empirically investigates the effects of the Euronext Stock Exchange merger on listed firms, i.e. the merger of Stock Exchanges in Amsterdam, Brussels, Lisbon and Paris. Specifically, it examines how Exchange consolidation has affected Stock liquidity and how the effect varies with firm type, i.e. what types of firms benefit the most in terms of Stock liquidity and other financial outcomes. The results show asymmetric liquidity gains from the Stock Exchange merger, where the positive effects are concentrated among big firms and firms with foreign sales. There is not a significant increase in Stock liquidity of small or medium sized firms, nor of firms that only operate domestically. Beyond the significant size and foreign exposure effects (i.e. big firms and firms with foreign sales gain), the analysis finds no systematic pattern in the distribution of merger benefits across industries or listing locations. The merger is associated with an increase in Euronext's market share, where the increase is drawn from the London Stock Exchange. There is however no evidence of Euronext enhancing its competitive stand in terms of attracting new firm listings.
Sanjay Dhir - One of the best experts on this subject based on the ideXlab platform.
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National Stock Exchange of India
Cases in Strategic Management, 2019Co-Authors: Sanjay DhirAbstract:After being part of the financial sector during the 2008 global crisis, Vikram Limaye is not new in handling crisis and undertook the most challenging project of his career to take the top job at the National Stock Exchange (NSE). The NSE is one of the leading Stock Exchanges in India and 11th largest Stock Exchange in the world by market capitalization. NSE was founded in 1992 as a demutualized electronic Exchange and is classified as the largest Stock Exchange in India in terms of daily sales, total sales, and average equity on the basis of annual reports by SEBI. Limaye took the position of CEO and MD Exchange in July 2017 when his predecessor Chitra Ramakrishna left the organization a year before her term was to be completed, and Limaye became the first person to head the Exchange from outside the founding party.
Amlys Syahputra Silalahi - One of the best experts on this subject based on the ideXlab platform.
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Performance Analysis of Spin-Off Company Stock Price in Indonesia Stock Exchange
International Journal of Research, 2020Co-Authors: Muhammad Ananda Fakhri, Isfenti Sadalia, Amlys Syahputra SilalahiAbstract:The purpose of this study is to see a significant difference in excess return, return on equity of the parent company and spin-off companies on the Indonesia Stock Exchange. This research is an event study using data types, namely quantitative data taken from the Indonesia Stock Exchange database in 2009 - 2020. The population in this study were 8 companies in which there were 4 companies in the construction sector, 1 company in the retail sector, 1 company in the consumer goods sector and 2 companies in the banking sector.
Etienne Redor - One of the best experts on this subject based on the ideXlab platform.
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Stock Exchange Mergers and Market
Applied Economics, 2016Co-Authors: Amélie Charles, Olivier Darné, Jae H. Kim, Etienne RedorAbstract:The aim of this article is to examine the impact of Stock Exchange mergers on the degree of informational efficiency. For this purpose, we apply the generalized spectral shape test for the martingale difference hypothesis to the Stock returns before and after the 31 domestic and crossborder mergers completed from 1997 to 2011. The test is conducted with moving subsample windows, allowing us to detect the periods of (in)efficiency, and thus to conduct a comparative analysis for pre-merger and post-merger periods. We find that higher levels of efficiency are less frequent than lower levels of efficiency after a Stock Exchange merger. We also find that the impact on the level of efficiency depends on a range of merger characteristics such as the level of development, size, geographical diversification and industrial diversification of Stock Exchange
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Stock Exchange Mergers and Market Efficiency
2014Co-Authors: Amélie Charles, Olivier Darné, Jae H. Kim, Etienne RedorAbstract:The aim of this paper is to examine the positive and negative impacts of Stock Exchange mergers on the informational efficiency of the markets. We consider a range of factors in relation to the Stock Exchange merger, that can potentially affects market efficiency, after a merger. These factors include the maturity of the markets being merged, the size of the markets, and different types of mergers (developed markets versus developing markets; large Stock Exchange mergers versus small Stock Exchange mergers; and domestic Stock Exchange mergers versus cross-border Stock Exchange mergers). For this purpose, we use a time-varying return predictability test which allows us to detect periods of (in)efficiency, and thus to conduct a comparative analysis for pre-merger and post-merger periods. We find that increases in efficiency are less frequent than decreases in efficiency after a Stock Exchange merger. Finally, we provide the empirical evidence that the impact on efficiency depends on range of the characteristics of the merger: Stock Exchange's country's level of development, size, geographical diversification and industrial diversification.
Muhammad Ananda Fakhri - One of the best experts on this subject based on the ideXlab platform.
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Performance Analysis of Spin-Off Company Stock Price in Indonesia Stock Exchange
International Journal of Research, 2020Co-Authors: Muhammad Ananda Fakhri, Isfenti Sadalia, Amlys Syahputra SilalahiAbstract:The purpose of this study is to see a significant difference in excess return, return on equity of the parent company and spin-off companies on the Indonesia Stock Exchange. This research is an event study using data types, namely quantitative data taken from the Indonesia Stock Exchange database in 2009 - 2020. The population in this study were 8 companies in which there were 4 companies in the construction sector, 1 company in the retail sector, 1 company in the consumer goods sector and 2 companies in the banking sector.
