The IRMA Community
Newsletters
Research IRM
Click a keyword to search titles using our InfoSci-OnDemand powered search:
|
The Response of Trading Volume to Borsa Istanbul Sustainability Index Inclusions and Exclusions
Abstract
Borsa Istanbul Sustainability Index (XUSRD) was launched on November 4, 2014. Initially, there were 15 firms in the index. This number grew to 56 as of December 2019. This study aims to investigate whether the firms' inclusion in or exclusion from XUSRD affect their trading volume. Both the effects of the announcement days and the effective days of the index changes were considered, and six index events that occurred between Nov 2014 and Dec 2019 were studied. On the effective days and their subsequent days, there were no significant trading volume changes for both included and excluded firms. On the announcement days, the trading volume increased for the included firms and decreased for the excluded firms, though only the experience of the deleted firms was statistically significant. Therefore, there was an asymmetric response to additions and deletions. In addition, the index effect on the included and excluded firms was temporary, which supports the price pressure hypothesis.
Related Content
|
Mukul Bhatnagar, Nitin Pathak.
© 2024.
16 pages.
|
|
Mitushi Singh, Mukul Bhatnagar.
© 2024.
32 pages.
|
|
Vikas Sharma, Sanjay Taneja, Kshitiz Jangir, Kirti Khanna.
© 2024.
15 pages.
|
|
Preet Kanwal.
© 2024.
17 pages.
|
|
Kapil Sharma, Yogesh Kumar, Rajiv Khosla, Sanjay Taneja.
© 2024.
16 pages.
|
|
Sanjeev Kumar, Mohammad Badruddoza Talukder, Firoj Kabir, Fahmida Kaiser.
© 2024.
15 pages.
|
|
K. K. Kishore Mishra, Swati Priya, Syed Sajid Hussain, Swati Gupta.
© 2024.
17 pages.
|
|
|