Economics Research

A Study the Effects of Free Float Change on Stock Return (Tehran Stock Exchange)

Document Type : Research Paper

Authors

Ahmad Ahmadpoor 1
Hossein Khakpour 2

1 Associate Professor, Accounting Group, University of Mazandaran

2 M.S. in Economics, University of Mazandaran

Abstract
This study is an attempt to investigate the impact of free float
announcement on stock return behavior of the companies accepted in
Tehran Stock Exchange. So we collect free float announcement in
twenty quarters period between 2004 and 2009. The researches
contain stocks behavior in time window between ten days before and
after announcement changes.
The most important finding of the study revealed that, the Abnormal
Return and Cumulative Abnormal Return statistically  differ significantly
before and after of free float announcement.

Keywords

Free Float Stocks
Strategic Shareholders
Market Liquidity

  • Receive Date 03 August 2010
  • Revise Date 09 April 2011
  • Accept Date 18 June 2011

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