Park, Jinwoo; Lee, Posang; Park, Yun W. - In: Pacific-Basin Finance Journal 30 (2014) C, pp. 251-269
This paper analyzes the information effect of involuntary delisting and the possibility of informed trading in the … Korean stock market. We find that the abnormal return is between 80% and 90% due to involuntary delisting in the Korean … years prior to involuntary delisting. Using delisting probability model, we find that the change in the share ownership of …