The impact of foreign ownership on return volatility, volume, and stock risks: Evidence from ASEAN countries
This paper aims to delve into the effect of foreign ownership on return volatility, volume, and risk of buying/holding stocks. It uses panel data from six ASEAN countries from 2007 to 2017. There are three primary findings. First, foreign ownership diminishes return volatility, particularly during a...
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| Format: | Article |
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Elsevier
2019
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| _version_ | 1825722141393289216 |
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| author | Naufa, Ahmad Maulin Lantara, I. Wayan Nuka Lau, Wee Yeap |
| author_facet | Naufa, Ahmad Maulin Lantara, I. Wayan Nuka Lau, Wee Yeap |
| author_sort | Naufa, Ahmad Maulin |
| collection | UM |
| description | This paper aims to delve into the effect of foreign ownership on return volatility, volume, and risk of buying/holding stocks. It uses panel data from six ASEAN countries from 2007 to 2017. There are three primary findings. First, foreign ownership diminishes return volatility, particularly during and after a crisis. Second, it has a positive influence on the trading volume of a stock in the post-crisis, nonetheless negative during a crisis. Third, it reduces the asset and equity risks. However, these beneficial findings could be uniquely different in other ASEAN member economies. In conclusion, the benefits of foreign ownership outweigh the downside to it. © 2019 |
| first_indexed | 2024-03-06T06:01:07Z |
| format | Article |
| id | um.eprints-23872 |
| institution | Universiti Malaya |
| last_indexed | 2024-03-06T06:01:07Z |
| publishDate | 2019 |
| publisher | Elsevier |
| record_format | dspace |
| spelling | um.eprints-238722020-02-20T03:00:42Z http://eprints.um.edu.my/23872/ The impact of foreign ownership on return volatility, volume, and stock risks: Evidence from ASEAN countries Naufa, Ahmad Maulin Lantara, I. Wayan Nuka Lau, Wee Yeap HC Economic History and Conditions HF Commerce This paper aims to delve into the effect of foreign ownership on return volatility, volume, and risk of buying/holding stocks. It uses panel data from six ASEAN countries from 2007 to 2017. There are three primary findings. First, foreign ownership diminishes return volatility, particularly during and after a crisis. Second, it has a positive influence on the trading volume of a stock in the post-crisis, nonetheless negative during a crisis. Third, it reduces the asset and equity risks. However, these beneficial findings could be uniquely different in other ASEAN member economies. In conclusion, the benefits of foreign ownership outweigh the downside to it. © 2019 Elsevier 2019 Article PeerReviewed Naufa, Ahmad Maulin and Lantara, I. Wayan Nuka and Lau, Wee Yeap (2019) The impact of foreign ownership on return volatility, volume, and stock risks: Evidence from ASEAN countries. Economic Analysis and Policy, 64. pp. 221-235. ISSN 0313-5926, DOI https://doi.org/10.1016/j.eap.2019.09.002 <https://doi.org/10.1016/j.eap.2019.09.002>. https://doi.org/10.1016/j.eap.2019.09.002 doi:10.1016/j.eap.2019.09.002 |
| spellingShingle | HC Economic History and Conditions HF Commerce Naufa, Ahmad Maulin Lantara, I. Wayan Nuka Lau, Wee Yeap The impact of foreign ownership on return volatility, volume, and stock risks: Evidence from ASEAN countries |
| title | The impact of foreign ownership on return volatility, volume, and stock risks: Evidence from ASEAN countries |
| title_full | The impact of foreign ownership on return volatility, volume, and stock risks: Evidence from ASEAN countries |
| title_fullStr | The impact of foreign ownership on return volatility, volume, and stock risks: Evidence from ASEAN countries |
| title_full_unstemmed | The impact of foreign ownership on return volatility, volume, and stock risks: Evidence from ASEAN countries |
| title_short | The impact of foreign ownership on return volatility, volume, and stock risks: Evidence from ASEAN countries |
| title_sort | impact of foreign ownership on return volatility volume and stock risks evidence from asean countries |
| topic | HC Economic History and Conditions HF Commerce |
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