The stock market impact of social pressure: The South African divestment case

被引：2

作者：

Lytle, LC ^{[1
]}

Joy, OM ^{[1
]}

机构：

[1] UNIV KANSAS, LAWRENCE, KS 66045 USA

来源：

QUARTERLY REVIEW OF ECONOMICS AND FINANCE | 1996年 / 36卷 / 04期

关键词：

D O I：

10.1016/S1062-9769(96)90049-6

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Using the South African divestment case, this study tests the hypothesis that social pressure affects stock returns. Both short-run (3-, 11-; and 77-day periods) and long-run (13-month periods) tests of stock returns surrounding U.S. corporate announcements of decisions to stay or leave South Africa were performed. Tests of the impact of institutional portfolio managers to divest stocks of U.S. firms staying in South Africa were also performed. Results indicate there was a negative wealth impact of social pressure stock prices of firms announcing plans to stay in South Africa fared better relative to stock prices of films announcing plans to leave.

引用

页码：507 / 527

页数：21

共 50 条

[31] Stock Market Linkages: Examining the case of Emerging South Asian Markets
Prakash, Sharon
Kumar, Santhosh
PACIFIC BUSINESS REVIEW INTERNATIONAL, 2014, 6 (12): : 29 - 36
[32] Causal Behavior of Dynamic Dividend Yield of Property Stock in Information Asymmetric Market: Evidence from South African Listed Property Stock Market
Fateye, Tosin B.
Ajayi, Oluwaseun D.
Ajayi, Cyril A.
Olaleye, Abel
Peiser, Richard B.
INTERNATIONAL REAL ESTATE REVIEW, 2024, 27 (04): : 501 - 520
[33] Social Market: Stock Market and Twitter Correlation
Bernardo, Ivo
Henriques, Roberto
Lobo, Victor
INTELLIGENT DECISION TECHNOLOGIES 2017, KES-IDT 2017, PT II, 2018, 73 : 341 - 356
[34] Corporate Social Responsibility and Corporate Social Investment: The South African Case
Ndhlovu, Tidings P.
JOURNAL OF AFRICAN BUSINESS, 2011, 12 (01) : 72 - 92
[35] Measuring alternative asset prices in an emerging market: The case of the South African art market
Binge, Laurie H.
Boshoff, Willem H.
EMERGING MARKETS REVIEW, 2021, 47
[36] South African plants poisonous to stock
不详
NATURE, 1934, 133 : 972 - 973
[37] The Impact of Stock Market Liberalization and Macroeconomic Variables on Stock Market Performances
Auzairy, Noor Azryani
Ahmad, Rubi
Ho, Catherine S. F.
FINANCIAL MANAGEMENT AND ECONOMICS, ICFME 2011, 2011, 11 : 358 - 362
[38] SOUTH AFRICAN COPPER MARKET
LEE, PB
METALL, 1969, 23 (11): : 1203 - &
[39] Corporate Social Responsibility Disclosure and Stock Market Liquidity: The Case of Jordan
Haddad, Ruwaidah H.
Haddad, Ayman E.
Haddad, Ayham
Sawalha, Nabeel
SUSTAINABILITY, 2024, 16 (01)
[40] Comparison of Multifactor Asset Pricing Models in the South African Stock Market [2000-2016]
Mukoyi, Lenia
Ogujiuba, Kanayo K.
JOURNAL OF RISK AND FINANCIAL MANAGEMENT, 2023, 16 (01)

← 1 2 3 4 5 →