DocumentCode
1650873
Title
Notice of Retraction
The dissimilation of announcement effects of private placement between bull and bear markets —An empirical research in Chinese stock market
Author
Jing Yu ; Bin Xu
Author_Institution
Res. Center on Fictitious Econ. & Data Sci., CAS, Beijing, China
Volume
2
fYear
2010
Firstpage
558
Lastpage
562
Abstract
Notice of Retraction
After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.
We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.
The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.
In this paper, we investigate the dissimilation of announcement effects of private placement between bull and bear markets by taking these public corporations of announcing private placement from 2006 to 2008 as sampled corporations. We can disclose the following phenomena: in the bull stock market, the significant announcement effect can only be showed in the announcement day whereas it can be significantly showed during the whole process including pre- and post- announcement day in the bear stock market. The relationship in the different stock market surroundings between the effects of announcement and price discount will be significantly different and the announcement effects will be lessened with the increasing of discount whereas it will be swelled in the bull stock market surroundings. In last, some theoretic interpretations will be given according to investor sentiment and the corresponding revelations.
After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.
We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.
The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.
In this paper, we investigate the dissimilation of announcement effects of private placement between bull and bear markets by taking these public corporations of announcing private placement from 2006 to 2008 as sampled corporations. We can disclose the following phenomena: in the bull stock market, the significant announcement effect can only be showed in the announcement day whereas it can be significantly showed during the whole process including pre- and post- announcement day in the bear stock market. The relationship in the different stock market surroundings between the effects of announcement and price discount will be significantly different and the announcement effects will be lessened with the increasing of discount whereas it will be swelled in the bull stock market surroundings. In last, some theoretic interpretations will be given according to investor sentiment and the corresponding revelations.
Keywords
stock markets; Chinese stock market; announcement effects dissimilation; bear markets; bull markets; private placement; Noise measurement; Portfolios; announcement effect; bear market; bull market; private placement; stock market circle;
fLanguage
English
Publisher
ieee
Conference_Titel
Advanced Management Science (ICAMS), 2010 IEEE International Conference on
Conference_Location
Chengdu
Print_ISBN
978-1-4244-6931-4
Type
conf
DOI
10.1109/ICAMS.2010.5552984
Filename
5552984
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