A new look at the meeting clustering effect
NAGIOS: RODERIC FUNCIONANDO

A new look at the meeting clustering effect

DSpace Repository

A new look at the meeting clustering effect

Show simple item record

dc.contributor.author Pardo Tornero, Ángel
dc.contributor.author Santandreu, Eddie
dc.date.accessioned 2022-05-19T16:47:15Z
dc.date.available 2022-05-19T16:47:15Z
dc.date.issued 2021
dc.identifier.uri https://hdl.handle.net/10550/82896
dc.description.abstract Purpose - The study aims to test the existence of a meeting clustering effect in the Spanish StockExchange (SSE). Design/methodology/approach - This paper studies the relationship between the clustering of annual general meetings and stock returns in the SSE. A multivariate analysis is carried out in order to analyse the relationship between monthly returns and the clustering of general meetings in the SSE. Findings - The authors show that meeting clustering exists and that some months exhibit significant and positive additional returns related to the holding of ordinary or extraordinary general meetings. Research limitations/implications - The authors have explored some possible explanations for the meeting clustering effect, such as a potential link with the "Halloween" effect or the presence of higher-thannormal levels of volatility, trading volumes or investor attention. However, none of these can explain the meeting clustering effect that emerges as a new anomaly in the SSE. Practical implications - The authors have documented significant and positive abnormal returns in some months that coincide with the holding of general meetings. Therefore, the holding of ordinary and/or extraordinary meetings in some months involves the release of relevant information for investors. Originality/value - This study complements the financial literature because it is focused on the clustering ofmeetings and its effect on a stock market whose legal order is based on civil law. This fact allows us to shed new light on meeting clustering and its effect on other types of markets.
dc.language.iso eng
dc.relation.ispartof Review of Behavioral Finance, 2021
dc.rights.uri info:eu-repo/semantics/openAccess
dc.source Pardo Tornero, Ángel Santandreu, Eddie 2021 A new look at the meeting clustering effect Review of Behavioral Finance
dc.subject Dret financer
dc.subject Dret civil
dc.subject Economia de mercat
dc.title A new look at the meeting clustering effect
dc.type info:eu-repo/semantics/article
dc.date.updated 2022-05-19T16:47:15Z
dc.identifier.doi https://doi.org/10.1108/RBF-03-2021-0042
dc.identifier.idgrec 152965

View       (152.8Kb)

This item appears in the following Collection(s)

Show simple item record

Search DSpace

Advanced Search

Browse

Statistics