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Long-Run Performance of Redeemable Convertible Unsecured Loan Stocks (RCULS) and Irredeemable Convertible Unsecured Loan Stocks (ICULS)

Mohd Abdoh, Wan Mohd Yaseer (2007) Long-Run Performance of Redeemable Convertible Unsecured Loan Stocks (RCULS) and Irredeemable Convertible Unsecured Loan Stocks (ICULS). Masters thesis, Universiti Utara Malaysia.

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Abstract

This study examines the long-run performance of Redeemable
Convertible Unsecured Loan Stocks (RCULS) and Irredeemable Convertible Unsecured Loan Stocks (ICULS). Using the monthly data on corporations listed on the Main Board,
Bursa Malaysia, that issued the RCULS and ICULS; buy-and-hold abnormal returns (BHAR) and cumulative abnormal returns (CAR) methods are conducted to examine the long - run performance of the two instruments. The findings and analysis of this thesis were made based on the data collected from Bursa Malaysia Bloomberg and Investor's
Digest and Datastream. The results indicate that overperformance exists on the issuing firms1 stock returns for all one - year, two - year and three - year periods, regardless whether buy-and-hold abnormal returns (BHAR) or cumulative abnormal returns (CAR) is applied. Although, the results do contra with Gompers and Lemer (2003), Ritter and Welch (2002), Loughran and Ritter (1995) and Loughran (1993). the argument is based on the sample size being used in the study.

Item Type: Thesis (Masters)
Supervisor : UNSPECIFIED
Item ID: 16
Uncontrolled Keywords: Stocks, RCULS, ICULS, Loan
Subjects: H Social Sciences > HG Finance
Divisions: College of Business (COB)
Date Deposited: 22 Oct 2008 04:21
Last Modified: 13 Jun 2022 02:58
Department: Faculty of Finance and Banking
URI: https://etd.uum.edu.my/id/eprint/16

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