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Volume :15 Issue : 1 2008      Add To Cart                                                                    Download

Stock Price Variability and the Effect of Fundamental,

Auther : Talla M. Al-Deehani
& Mohammad T. Al-Thamer

This paper uses cross-sectional data of the period 2003-2005 for most of the companies listed on Kuwait stock exchange. The paper has two objectives. The first is to test for the incremental effect of corporate governance on stock price variability by controlling some established variables. The second is to add to the body of knowledge by examining the asymmetric effects of the established controlling variables, namely, the change in earnings per share, the change in book value per share and the change in cash dividend on stock price variability. The results indicate an insignificant incremental effect of the corporate governance variable on stock price variability. By rejecting the hypothetical symmetric notion, the study provides strong evidence of the existence for asymmetric effects of the controlling explanatory variables on stock price variability. Potential theoretical and practical implications are presented.

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Nov 19, 2019

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