haku: @indexterm DISCOUNT RATE / yhteensä: 136
viite: 28 / 136
Tekijä: | Chen, C. |
Otsikko: | Discount rate changes, stock market returns, volatility, and trading volume: evidence from intraday data and implications for market efficiency |
Lehti: | Journal of Banking and Finance
1999 : JUN, VOL. 23:6, p. 897-924 |
Asiasana: | CHANGE DISCOUNT RATE STOCK MARKETS |
Kieli: | eng |
Tiivistelmä: | The authors examine the effect of discount rate changes on stock market returns, volatility, and trading volume using intraday data. Equity returns generally respond negatively and significantly to the unexpected announcements; however, the effect of expected changes on equity returns is insignificant. Furthermore, the results indicate that equity prices respond to announcements within the trading period/hour after the information release. |
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