Midlands State University Library
Image from Google Jackets

The market response to exploration, resource and reserve announcements by mining companies: Australian data created by Ron Bird, Matthew Grosse, and Danny Yeung

By: Contributor(s): Material type: TextTextSeries: Australian journal of management ; Volume 38, number 2Los Angeles: Sage, 2013Content type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISSN:
  • 0312-8962
Subject(s): LOC classification:
  • HD31 AUS
Online resources: Abstract: This is the first paper to study the market response to “Joint Ore Reserve Committee” –compliant announcements made by Australian mining firms. Results from an event study based on matched firms suggest that these announcements are highly value relevant, with the market reacting in a significantly positive way to both exploration and resource announcements. Larger abnormal returns are found to accrue to smaller firms, to firms that use positive adjectives in their announcement headlines and to firms whose announcements imply larger percentage increases in resource levels. We also find evidence of markets anticipating both exploration and resource announcements a few days before they are released, which may be suggestive of some insider trading.
Reviews from LibraryThing.com:
Tags from this library: No tags from this library for this title. Log in to add tags.
Star ratings
    Average rating: 0.0 (0 votes)
Holdings
Item type Current library Call number Vol info Status Notes Date due Barcode
Journal Article Journal Article Main Library - Special Collections HD31 AUS (Browse shelf(Opens below)) Vol. 38, no.2 (pages311-331) Not for loan For in house use only

This is the first paper to study the market response to “Joint Ore Reserve Committee” –compliant announcements made by Australian mining firms. Results from an event study based on matched firms suggest that these announcements are highly value relevant, with the market reacting in a significantly positive way to both exploration and resource announcements. Larger abnormal returns are found to accrue to smaller firms, to firms that use positive adjectives in their announcement headlines and to firms whose announcements imply larger percentage increases in resource levels. We also find evidence of markets anticipating both exploration and resource announcements a few days before they are released, which may be suggestive of some insider trading.

There are no comments on this title.

to post a comment.