DocumentCode
2145491
Title
Quality Awards and the Market Value of the Firm-Based on the Data from Chinese Stock Market
Author
Bu, Xiang-Zhi ; Tang, Jin-Mei
Author_Institution
Bus. Sch., Shantou Univ., Shantou, China
fYear
2010
fDate
24-26 Aug. 2010
Firstpage
1
Lastpage
4
Abstract
This paper investigates the impact of winning quality award on short-term and long-term stock prices in the mainland of China. Our results show that the award winners get significantly positive abnormal returns in the stock market at short run. The quality awards have a distinct stock price effect to large firms, and that the China Quality Award (CQA) winners get more abnormal returns than that of "Performance Excellence Model" (CEP) winners. However, we haven\´t found a statistically different market performance for awards winners by BHAR model in long-run.
Keywords
quality awards; stock markets; China; Performance Excellence Model; market value; quality award; stock market; stock price; Awards activities; Certification; Companies; IEEE news; Quality awards; Stock markets; Total quality management;
fLanguage
English
Publisher
ieee
Conference_Titel
Management and Service Science (MASS), 2010 International Conference on
Conference_Location
Wuhan
Print_ISBN
978-1-4244-5325-2
Electronic_ISBN
978-1-4244-5326-9
Type
conf
DOI
10.1109/ICMSS.2010.5576071
Filename
5576071
Link To Document