Directors' resignation and its effect on share price : an empirical evaluation

Mackenzie, Denis G. (1992). Directors' resignation and its effect on share price : an empirical evaluation Honours Thesis, School of Business, The University of Queensland.

       
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Author Mackenzie, Denis G.
Thesis Title Directors' resignation and its effect on share price : an empirical evaluation
School, Centre or Institute School of Business
Institution The University of Queensland
Publication date 1992
Thesis type Honours Thesis
Total pages 113
Language eng
Subjects 14 Economics
Formatted abstract This study investigates the characteristics of the firm and director which cause either a positive or negative share price reaction to the announcement of a directors voluntary resignation. The study is motivated by the conflicting results found in the literature and the lack of a detailed analysis of the factors causing the share price reaction to a director resignation announcement. The empirical propositions developed in the study are motivated by the results of a Case Study found in Appendix A. The study finds that the level of firm growth options, director and board reputation, and the performance of the firm and director are correlated with the individual positive and negative excess returns found in the sample.

 
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