Search Results for Eatessam Al-Shakrchy

Abstract

This research aims to study the impact of information asymmetry on stock price forecasting within the context of the informational content of announcements from a sample of companies listed on the stock exchange. This is achieved by identifying companies that have distributed dividends for at least three consecutive years. Accordingly, the "event window" was employed, providing a systematic framework for studying stock movements on specific dates. This framework allows the companies in the research sample to understand how financial markets react to new information about the market under study. The focus is on the role of the event window in measuring informational content. This emphasis on the event window stems primarily from recent trends toward announcing earnings during after-market hours. It is also attributed to the lack of systematic research on the length of the event window, which is when the benefit derived from earnings information is at its maximum. The researchers used the Multiple regression test, the T-Test, and the Scenario style to test the research hypothesis, which led to the conclusion that financial returns are only achieved through the informational content of the profit distribution announcement, and that the maximum window for informational content includes only the day of trading of the announcement. This view reflects the event window that maximizes information related to profits by relying on the timing of profit announcements during non-trading hours versus trading hours.

Abstract

Capital structure is considered a fundamental topic in the field of financial management due to its vital role in supporting corporate financial decisions and its direct impact on financial performance and returns. This study aims to analyze the role of capital structure indicators on abnormal stock returns, with a specific focus on industrial companies listed on the Iraq Stock Exchange, as these returns serve as important indicators of market efficiency and the influence of financial decisions.

The study addresses the relationship between the components of capital structures such as debt and equity—and deviations in stock returns from expected values. These deviations may reflect unexpected opportunities or additional risks borne by investors. The research problem was formulated through inquiries into the impact of the financing mix used by companies on abnormal returns, as well as the extent to which these returns are affected by financial risk and the environmental challenges faced by the Iraqi market.

The significance of this study lies in its attempt to explain how changes in financial leverage influence abnormal returns. It also provides practical indicators that enhance the efficient use of financial resources and help investors gain a better understanding of how to evaluate their returns and expectations based on the components of capital structure. Furthermore, the study seeks to offer insights and recommendations that support financial decision-makers in choosing a balanced capital structure that contributes to growth and risk reduction. The study adopts an analytical approach that integrates theoretical foundations with empirical measurement of financial leverage indicators and abnormal returns, by analyzing data from a sample of listed industrial companies.