Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/309764 
Erscheinungsjahr: 
2022
Quellenangabe: 
[Journal:] International Journal of Management and Economics [ISSN:] 2543-5361 [Volume:] 58 [Issue:] 3 [Year:] 2022 [Pages:] 279-298
Verlag: 
Sciendo, Warsaw
Zusammenfassung: 
The study aims to empirically analyze the reaction of stock prices to the information about the conclusion and acceptance of a debtor-creditor arrangement under restructuring proceedings of companies listed on the stock exchange in Poland. The following main research hypothesis was verified: public disclosure of information about an arrangement conclusion and acceptance in restructuring proceedings results in above-average rates of return due to investments in the stocks of these entities in the short term. Three events were assessed: the public disclosure of information about the conclusion of a debtor-creditor arrangement (Event 1), its approval by a court (Event 2), and the decision becoming final (Event 3). The research method applied was the event study. Event 1 and Event 3 leads to an above-average and statistically significant increase in stock prices on the day of the event. In contrast, no statistically significant above-average rates of return accompanied Event 2.
Schlagwörter: 
event analysis
market efficiency
price reaction
restructuring proceedings
JEL: 
G11
G14
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