{"product_id":"the-impact-of-black-economic-empowerment-on-shareprice-von-charles-nsibande","title":"The Impact of Black Economic Empowerment on shareprice","description":"\u003cp\u003eThe book is about the impact of Black Economic  Empowerment (BEE) on the shareprice of construction  and property companies that implemented BEE  transactions, post the enacting of the South African  government BEE Act of 2003 and published their BEE  transactions on the Johannesburg Stock Exchange News  Service.  The methodology for the impact on shareprice  followed that of Brown S. J. and Warner J. B. (1980  and 1985) and measures if there were abnormal  returns or residuals as a result of the BEE  transaction events. Sharpe''s Capital Asset Pricing  Model was applied to calculate the expected returns.  The abnormal returns or residuals were the  difference between the expected returns and the  actual returns. Further, the residuals were  cumulated using the technique described in Fama,  Fischer, Jensen and Roll to get Cumulative Average  Residuals (CARS) which were plotted on a graph. When  there was abnormal return, the CARS'' plot resulted  in fractiles which could clearly be identified on  the CARS'' plot.  The findings in the book support the hypothesis that  different BEE strategies have different effects and  impact on the shareprice of the companies.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783838392257\"\u003e\u003ch3\u003eA case study of the South African Construction and Property Industry\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783838392257","offer_id":39469235863645,"sku":"9783838392257","price":59.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/3f39bd39-a18c-4892-b1b2-89fca49caa1a.jpg?v=1776316109","url":"https:\/\/shop.autorenwelt.de\/products\/the-impact-of-black-economic-empowerment-on-shareprice-von-charles-nsibande","provider":"Autorenwelt Shop","version":"1.0","type":"link"}