Earticle

초록

영어

This study is about to empirically investigate the stock prices and volumes effects associated with addition to the SRI index. Using the 89 listed firms in the stock market from 2009 to 2011, the author analyze the stock prices and volumes by an event study. The results are summarized as follows. Firstly, it has come out that the informations on addition to the SRI index can positively affect in the market, but the price rollback has been founded at the next day after the change-day. This results may support the price pressure hypothesis. Secondly, it was observed that the excess volumes of the firms incorporated into the index were the high level in a short term, but these were not lasted on in a long term. Thirdly, the change rates of volume were higher than those of the disclosure days, but not in a long term. Consequently, the author are able to embrace the price pressure hypothesis, and furthermore the liquidity hypothesis can be also adopted because the stock prices rose up and the volumes increased for a short period of time. However the stock prices were not rising up for a long time so that it can be not adopt the downward-sloping demand curve hypothesis and the information hypothesis.

목차

Ⅰ. 서론
 Ⅱ. 이론적 배경 및 선행연구
 Ⅲ. 연구방법론
 Ⅳ. 실증적 분석
 Ⅴ. 결론
 참고문헌
 Abstract
 [부록]

키워드

저자

• 박준우 [ Joon-Woo Park | 청주대학교 경영학과 교육전담 조교수 ] 주저자
• 곽세영 [ Seyoung Guahk | 청주대학교 경영학과 교수 ] 공동저자

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  생산성연구: 국제융합학술지 [Productivity Research: An International Interdisciplinary Journal]

• 간기

  격월간

• pISSN

  1225-3553

• 수록기간

  1987~2025

• 등재여부

  KCI 등재

• 십진분류

  KDC 325 DDC 330