However, employing the event study
approach allows drawing general conclusions about how investors react to sponsorship activities.
These tests are based on an event study
of a sample of 88 publicly traded property liability insurance firms, including three named firms, 55 nonnamed firms that used contingent commissions in 2003, and 30 firms that did not use them.
The event study
suggests that MBS purchases in QE1 were crucial for lowering MBS yields as well as corporate credit risk and thus corporate yields for QE1, and Treasuries-only purchases in QE2 had a disproportionate effect on Treasuries and agency bonds relative to MBSs and corporate bonds, with yields on the latter falling primarily through the market's anticipation of lower future federal funds rates.
Each of these studies used an event study
methodology and daily returns data.
To investigate the impact of the SLA, we use an event study
We used the event study
methodology developed by Brown and Warner (1985), with daily abnormal return (AAR).
The key objective of this event study
is to determine whether any value enhancing benefits accrue for those emerging market firms that invest in Internet technology.
12 /PRNewswire-FirstCall/ -- ClariFI, a Standard & Poor's Capital IQ business and leading provider of software and services focused exclusively on providing investment managers with complete solutions to their research and production workflows, today announced the launch of Event Study
, the latest addition to ClariFI's suite of market-leading investment management applications.
We employ an event study
analysis to examine the market reaction to congressional agreement on the passage of the Sarbanes-Oxley Act of 2002.
This study employs standard event study
methodology described in earlier studies of intra-industry effects of firm-specific events (see, for example, Mikkelson & Partch, 1985; Linn and McConnell, 1983; Slovin et al.
The results of the event study
analysis show that the announcement effect is connected with significantly positive abnormal returns, which is consistent with the agency hypothesis.
This paper evaluates the returns on management's strategy to advertise during the Super Bowl using the event study