An appraisal of the effects of news and press releases on the stock price returns of mining firms in the Philippines
| creativework.keywords | Stock price | |
| creativework.keywords | Media | |
| dc.contributor.advisor | Escresa, Laarni C. | |
| dc.contributor.author | Tan, Lerizze Angela Lee | |
| dc.contributor.author | Tan, Maria Patricia Castillo | |
| dc.date.accessioned | 2024-10-07T07:58:44Z | |
| dc.date.available | 2024-10-07T07:58:44Z | |
| dc.date.issued | 2016-06 | |
| dc.description.abstract | Various research have long been made to assess the effects of news on stock prices. This study provides a Philippine context of financial market and investor behavior analysis on which there is very little literature available. A focus was placed on the effect of news on mining and oil stock prices because of their particular susceptibility to be placed under media scrutiny. It strays from the norm of looking into the effect of news on the market as a whole. Rather, it delves into microeconomics news and its firm specific effects. The Wilcoxon Matched Pairs Signed Rank Test and Paired T-Test were performed to provide both a non-parametric and parametric approach to the study. The former followed Fama’s (1965) evidence that the distribution of stock price changes may not be Gaussian normal; the latter assumed normality and took interval data into account. The test results confirm that these news, indeed, have an effect on stock prices with positive news creating a positive effect, and negative news creating a negative effect. Negative news showed particular strength and significance in creating an impact on stock prices. This is consistent with literature on investor behavior. Insight on the effect of public relations investment, particularly on the use of press releases to deter negative company publicity was also provided. Though data was limited, a positive relationship between press releases and stock prices manifested. This substantiates recommendations of investment on public relations arms. | |
| dc.identifier.uri | https://selib.upd.edu.ph/etdir/handle/123456789/621 | |
| dc.language.iso | en | |
| dc.title | An appraisal of the effects of news and press releases on the stock price returns of mining firms in the Philippines | |
| dc.type | Thesis |