The efficiency of trading halts: emerging market evidence

Bacha, Obiyathulla Ismath and A. Rashid, Mohamed Eskandar S 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 1675-7227 E-ISSN 2590-423X

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Abstract

This paper reports new findings on the price effect from trading halts - both voluntary and mandatory - over 2000-2004 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 (Note)
Additional Information:	4738/74219
Uncontrolled Keywords:	Trading Halts, Price, Efficiency, and Malaysia
Subjects:	H Social Sciences > HG Finance > HG4501 Stocks, investment, speculation
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences > Department of Finance Kulliyyah of Economics and Management Sciences
Depositing User:	Dr. Roslily Ramlee
Date Deposited:	17 Sep 2019 10:13
Last Modified:	17 Sep 2019 10:13
URI:	http://irep.iium.edu.my/id/eprint/74219

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