An Events Study of Ethically Negative News

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Tippet, John (2003) An Events Study of Ethically Negative News. Accounting Research Journal, 16 (1). pp. 58-67. ISSN 1030-9616


The public announcement of news arising from corporate events of a perceived unethical nature maybe expected to result in a decreased demand for shares in the companies concerned, the extent of the decrease being dependent upon the propensity of equity investors to be concerned about ethical corporate behaviour. From a study of a wide range of public newspaper reports of ethically negative news relating to companies with a high probability of signalling negative news, it has been found that the frequency with which negative news results in a significant drop in share prices is typically small. This finding is consistent with the view that most investors are concerned primarily with risk and return.

Item type Article
Subjects Historical > Faculty/School/Research Centre/Department > School of Economics and Finance
Historical > FOR Classification > 1503 Business and Management
Keywords ResPubID5707, ethical, event, shares, prices, announcement
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