JOURNAL ARTICLE

Short-term Securities Market Surveillance Measures and Market Performance — An Empirical Analysis.

  • Published In: Review of Pacific Basin Financial Markets & Policies, 2024, v. 27, n. 1. P. 1 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Chari, Latha; Inamdar, Mohd Merajuddin 3 of 3

Abstract

Regulators use securities market surveillance as an essential tool to guard against market manipulation, safeguard investors, and maintain the effectiveness of the markets. In an effort to thwart open market manipulation SEBI in consultation with the exchanges has put in place a unique surveillance mechanism known as Additional Surveillance Measures (ASM). The short-term impact of this surveillance measure on stock prices and trading volume is examined in this study, using event study methodology. The sample data consists of 245 instances, where companies were subject to ASM surveillance actions for a brief period. The results of the study show that the Cumulative Abnormal Return (CAR) on the stocks decreased after inclusion into STASM and the same persisted after exclusion also. However, the average abnormal volume (AAV) changed significantly in the pre- and post-event period. [ABSTRACT FROM AUTHOR]

Additional Information

  • Source:Review of Pacific Basin Financial Markets & Policies. 2024/03, Vol. 27, Issue 1, p1
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2024
  • ISSN:0219-0915
  • DOI:10.1142/S0219091524500048
  • Accession Number:177568446
  • Copyright Statement:Copyright of Review of Pacific Basin Financial Markets & Policies is the property of World Scientific Publishing Company and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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