Price and volume effects associated with derivative warrant issuance on the Stock Exchange of Hong Kong
Article Abstract:
The effect of underlying stocks on the volume and price of stock warrants and derivatives on the Stock Exchange of Hong Kong is investigated. Extra buying pressure is placed on the stocks before derivative and warrant issuance.
Publication Name: Journal of Banking & Finance
Subject: Business
ISSN: 0378-4266
Year: 2001
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Portfolio selection and skewness: evidence from international stock markets
Article Abstract:
Five of the world's 14 major stock markets' weekly return distribution and 11 of the 14 stock markets' monthly return distributions show major skewness, and the returns of the stock market are not normally distributed. To establish an ideal portfolio in the indexes of the 14 stock markets, the polynomial goal programming, in which investor preferences for skewness can be included, was used. The incorporation of skewness into the portfolio decision of an investor triggers a significant modification in the creation of an ideal portfolio.
Publication Name: Journal of Banking & Finance
Subject: Business
ISSN: 0378-4266
Year: 1997
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Announcement effects of convertible bond loans and warrant-bond loans: an empirical analysis for the Dutch market
Article Abstract:
Research was conducted to examine the effects of the announcement of offerings of warrant-bond loans (WBs) and convertible bond (CBs) loans. The data used were taken from the announcements of CBs and WBs that were issued by Dutch firms from Jan 1976 to Dec 1996 and which were listed on the Amsterdam Stock Exchange. Results indicate that CB announcements in the US were associated with significant negative abnormal returns while CB and WB announcements in Japan were associated with insignificant returns. Findings suggest possible differences between announcement effects of CBs and WBs.
Publication Name: Journal of Banking & Finance
Subject: Business
ISSN: 0378-4266
Year: 1998
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