Study on Announcement Effect of Stock Repurchase from the Perspective of Configuration Analysis
This paper takes the stock repurchase cases in 2018-2019 after the promulgation of the New Company Law as the research object. Using the qualitative comparative analysis method and PSO-ICA-GARCH model, we analyze the influencing factors of the stock repurchase announcement market reaction. Through t...
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| Format: | Article |
| Language: | English |
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Wiley
2021-01-01
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| Series: | Advances in Mathematical Physics |
| Online Access: | http://dx.doi.org/10.1155/2021/5975325 |
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| _version_ | 1832561520254386176 |
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| author | Hong Bing Wang Ai Hua Jin Hai Yun Yu |
| author_facet | Hong Bing Wang Ai Hua Jin Hai Yun Yu |
| author_sort | Hong Bing Wang |
| collection | DOAJ |
| description | This paper takes the stock repurchase cases in 2018-2019 after the promulgation of the New Company Law as the research object. Using the qualitative comparative analysis method and PSO-ICA-GARCH model, we analyze the influencing factors of the stock repurchase announcement market reaction. Through the analysis of the degree of premium (DP), repurchase ratio (RR), natural logarithm of total assets (LAS), return on net assets (ROE), top 10 shareholder equity ratio (CR10), and executive shareholding ratio (MSL), it is found that the paths of high CAR stock repurchase effect include repurchase clause-oriented type and centralization-proportional matching type; the path of nonhigh CAR stock repurchase effect includes size-premium limit type, profit-proportion limit type, and repurchase clause limit type. Compared with GARCH model, it has higher separation accuracy and more accurate model prediction effect. |
| format | Article |
| id | doaj-art-b3ab526191bb4592bac54236f1318a7c |
| institution | Kabale University |
| issn | 1687-9120 1687-9139 |
| language | English |
| publishDate | 2021-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Advances in Mathematical Physics |
| spelling | doaj-art-b3ab526191bb4592bac54236f1318a7c2025-02-03T01:24:55ZengWileyAdvances in Mathematical Physics1687-91201687-91392021-01-01202110.1155/2021/59753255975325Study on Announcement Effect of Stock Repurchase from the Perspective of Configuration AnalysisHong Bing Wang0Ai Hua Jin1Hai Yun Yu2Business College, Wuxi Vocational College of Science and Technology, Wuxi 214101, ChinaBusiness College, Jiangsu Vocational College Information Technology, Wuxi 214153, ChinaBusiness College, Jiangnan University, Wuxi 214122, ChinaThis paper takes the stock repurchase cases in 2018-2019 after the promulgation of the New Company Law as the research object. Using the qualitative comparative analysis method and PSO-ICA-GARCH model, we analyze the influencing factors of the stock repurchase announcement market reaction. Through the analysis of the degree of premium (DP), repurchase ratio (RR), natural logarithm of total assets (LAS), return on net assets (ROE), top 10 shareholder equity ratio (CR10), and executive shareholding ratio (MSL), it is found that the paths of high CAR stock repurchase effect include repurchase clause-oriented type and centralization-proportional matching type; the path of nonhigh CAR stock repurchase effect includes size-premium limit type, profit-proportion limit type, and repurchase clause limit type. Compared with GARCH model, it has higher separation accuracy and more accurate model prediction effect.http://dx.doi.org/10.1155/2021/5975325 |
| spellingShingle | Hong Bing Wang Ai Hua Jin Hai Yun Yu Study on Announcement Effect of Stock Repurchase from the Perspective of Configuration Analysis Advances in Mathematical Physics |
| title | Study on Announcement Effect of Stock Repurchase from the Perspective of Configuration Analysis |
| title_full | Study on Announcement Effect of Stock Repurchase from the Perspective of Configuration Analysis |
| title_fullStr | Study on Announcement Effect of Stock Repurchase from the Perspective of Configuration Analysis |
| title_full_unstemmed | Study on Announcement Effect of Stock Repurchase from the Perspective of Configuration Analysis |
| title_short | Study on Announcement Effect of Stock Repurchase from the Perspective of Configuration Analysis |
| title_sort | study on announcement effect of stock repurchase from the perspective of configuration analysis |
| url | http://dx.doi.org/10.1155/2021/5975325 |
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