Relationship between Fortune 500 companies with regulatory violations and/or criminal offenses and resulting stock values.

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The purpose of this study was to determine whether publicly disclosed violations by U.S corporations, resulting in convictions or settlements, erode shareholder investment in the offending organizations. This study was designed to assess whether or not the shareholders' reactions to corporations' violations were related to a decline in organizations' stock valuations across sectors. In addition, this study attempted to assess whether or not shareholder support, expressed by stock prices, declined more after a corporation was prosecuted or reached a settlement for violations, as compared to corporations that disclosed earnings disappointments. Also, this study investigated the stock prices of violating corporations ... continued below

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Bhagwat, Tanya A. December 2009.

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This dissertation is part of the collection entitled: UNT Theses and Dissertations and was provided by UNT Libraries to Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 251 times . More information about this dissertation can be viewed below.

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  • Bhagwat, Tanya A.

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Description

The purpose of this study was to determine whether publicly disclosed violations by U.S corporations, resulting in convictions or settlements, erode shareholder investment in the offending organizations. This study was designed to assess whether or not the shareholders' reactions to corporations' violations were related to a decline in organizations' stock valuations across sectors. In addition, this study attempted to assess whether or not shareholder support, expressed by stock prices, declined more after a corporation was prosecuted or reached a settlement for violations, as compared to corporations that disclosed earnings disappointments. Also, this study investigated the stock prices of violating corporations compared to the non-offending corporations from within the same business sector, as well as considered the percentage decline for repeat offenders for violation two compared to violation one. Opposite to hypothesis, results showed that stock prices for the violating companies were significantly greater 12 months after the violation compared to the other months and no significant differences in percent decline between the eight sectors on any of the five decline measures. There were also no differences between violating companies and their matched companies. Companies with a violation had significantly greater stock prices overall than those without a violation.

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UNT Theses and Dissertations

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  • December 2009

Added to The UNT Digital Library

  • March 17, 2010, 11:40 a.m.

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  • Dec. 4, 2013, 10:08 a.m.

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Citations, Rights, Re-Use

Bhagwat, Tanya A. Relationship between Fortune 500 companies with regulatory violations and/or criminal offenses and resulting stock values., dissertation, December 2009; Denton, Texas. (digital.library.unt.edu/ark:/67531/metadc12083/: accessed August 20, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; .