Show simple item record

dc.contributor.authorSemkowich, Paulen
dc.date.accessioned2019-10-02T19:56:51Z
dc.date.available2019-10-02T19:56:51Z
dc.identifier.urihttp://hdl.handle.net/1974/26688
dc.description.abstractThis thesis explores the advances to mandatory corporate disclosures and reporting systems since 1996, including the growing prevalence of optional reporting in Corporate Social Responsibility (CSR) and Technology and Innovation (T&I), specifically by the gold sub-industry which has increased year-over-year. Many multinational mining corporation executive officers preach that this optional reporting generates greater value for shareholders and is critical to corporate success. This research explores whether this claim is supported by market data on regulated trading platforms. While the social benefits of a strong company-community relationship are immeasurable, the value can be contextualized through econometric techniques which quantify market reactions to various types of corporate disclosures. A custom event study model was built and tested on a case study of a major multinational gold producer. This case study quantified the economic value of mandatory corporate disclosures and evaluated them relative to optional reports. The methodology used benchmarks the company’s equity price to a reconstructed variant of the "NYSE Arca Gold BUGS" (HUI) Index and calculates the abnormal returns for all corporate disclosures. Each abnormal return is then categorized into a performance indicator category (production, financial, corporate, technical), and a T&I or CSR category. Finally, statistical analysis and sentiment analysis determine any economic impacts and trends. Disclosure system shortcomings are discussed along with recommendations provided on improving electronic disclosure systems, from both a policy and practical perspective. Potential further applications of this custom model include stock price prediction given corporate disclosures as an input, anomalous trading behaviour identification for regulatory tools, and communicating social value on equity valuation to corporate board executives.en
dc.language.isoengen
dc.relation.ispartofseriesCanadian thesesen
dc.rightsQueen's University's Thesis/Dissertation Non-Exclusive License for Deposit to QSpace and Library and Archives Canadaen
dc.rightsProQuest PhD and Master's Theses International Dissemination Agreementen
dc.rightsIntellectual Property Guidelines at Queen's Universityen
dc.rightsCopying and Preserving Your Thesisen
dc.rightsThis publication is made available by the authority of the copyright owner solely for the purpose of private study and research and may not be copied or reproduced except as permitted by the copyright laws without written authority from the copyright owner.en
dc.rightsCC0 1.0 Universalen
dc.rights.urihttp://creativecommons.org/publicdomain/zero/1.0/
dc.subjectEvent Studyen
dc.subjectCorporate Social Responsibilityen
dc.subjectSEDARen
dc.subjectCorporate Disclosuresen
dc.subjectTechnology and Innovationen
dc.subjectEconometricsen
dc.subjectGold Mining Companyen
dc.titleEconometric Analysis of Market Responses to Corporate Reports of a Multinational Gold Produceren
dc.typethesisen
dc.description.degreeM.A.Sc.en
dc.contributor.supervisorDaneshmend, Laeequeen
dc.contributor.supervisorJohnson, Elizabethen
dc.contributor.departmentMining Engineeringen
dc.degree.grantorQueen's University at Kingstonen


Files in this item

Thumbnail
Thumbnail

This item appears in the following Collection(s)

Show simple item record

Queen's University's Thesis/Dissertation Non-Exclusive License for Deposit to QSpace and Library and Archives Canada
Except where otherwise noted, this item's license is described as Queen's University's Thesis/Dissertation Non-Exclusive License for Deposit to QSpace and Library and Archives Canada