The Impact of Black Economic Empowerment on shareprice Год выпуска: 2010Автор: Charles NsibandeИздательство: LAP Lambert Academic PublishingСтраниц: 144ISBN: 9783838392257Описание The book is about the impact of Black Economic Empowerment (BEE) on the shareprice of construction and property companies that implemented BEE transactions, post the enacting of the South African government BEE Act of 2003 and published their BEE transactions on the Johannesburg Stock Exchange News Service. The methodology for the impact on shareprice followed that of Brown S. J. and Warner J. B. (1980 and 1985) and measures if there were abnormal returns or residuals as a result of the BEE transaction events. Sharpe''s Capital Asset Pricing Model was applied to calculate the expected returns. The abnormal returns or residuals were the difference between the expected returns and the actual returns. Further, the residuals were cumulated using the technique described in Fama, Fischer, Jensen and Roll to get Cumulative Average Residuals (CARS) which were plotted on a graph. When there was abnormal return, the CARS'' plot resulted in fractiles which could clearly be...
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Виктория, 04.06 Сегодня защитила Диплом на отлично! Спасибо Вам огромное за все!))))))
