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The Efficiency of Trading Halts: Emerging Market Evidence

Bacha, Obiyathulla I. and S. A., Mohamed Eskandarn and Ramlee, Roslily (2008) The Efficiency of Trading Halts: Emerging Market Evidence. The International Journal of Banking and Finance, 5 (2). pp. 125-148. ISSN 1617-722

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Abstract

This paper reports new findings on the price effect from trading halts - both voluntary and mandatory - over 2000-04 in an emerging share market, Malaysia. Based on our overall sample, trading halts lead to positive price reaction, increased volume, and increased volatility.We found evidence of information leakage resulting in a significant difference between voluntary and mandatory halts as well as the type of news released during halts to warrant such an impact. The duration of the halt has an isolated impact and is largely inconsequential. The frequency of halts does not seem to matter.

Item Type: Article
Uncontrolled Keywords: Trading Halts, Price, Efficiency, and Malaysia
Subjects: H Social Sciences > HG Finance
Divisions: School of Economics, Finance & Banking
Depositing User: Mrs. Norazmilah Yaakub
Date Deposited: 31 Oct 2018 01:06
Last Modified: 31 Oct 2018 01:06
URI: https://repo.uum.edu.my/id/eprint/25095

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