The color of government money: Do investors differently value the investment of sovereign wealth funds?

Artikel

The article aims at pointing out the differences in market reactions regarding the announcement of an investment of selected Sovereign Wealth Funds in companies listed on the London Stock Exchange. The research sample consists of 796 market transactions made by four selected Sovereign Wealth Funds. The author employed event study methodology to calculate the average abnormal returns and cumulative abnormal returns for each fund in subsamples. The empirical findings suggest that investors react differently to the information about a fund's investment. To the best of the author's knowledge, the literature does not provide any answer as to how the market reacts to information disclosure of individual funds. Therefore, this paper bridges the gap in the literature within this field.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: e-Finanse: Financial Internet Quarterly ; ISSN: 1734-039X ; Volume: 13 ; Year: 2017 ; Issue: 1 ; Pages: 25-34 ; Berlin: De Gruyter Open

Classification and Topics

• Classification: Wirtschaft ; International Investment; Long-term Capital Movements ; Information and Market Efficiency; Event Studies; Insider Trading ; Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors
• Subject: sovereign wealth funds ; event study ; London Stock Exchange ; investment

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Urban, Dariusz
• Event: Veröffentlichung
• (who): De Gruyter Open
• (where): Berlin
• (when): 2017

Further information

• DOI: doi:10.1515/fiqf-2016-0016
• Handle: http://hdl.handle.net/10419/197371
• Last update: 10.03.2025, 11:46 AM CET