were conducted as early as in the 1930s in a paper measuring the price impact of common stock splits (Dolley, 1933).
We investigate whether the merger announcement dates provided in the Securities Data Corporation (SDC) database are handled correctly by researchers performing event studies
Even before the Halliburton case was decided, one of the major D&0 insurance carriers, MG, was out in front with an endorsement that would pay for event studies
if recommended by defense counsel drawn from MG'S list of pre-approved attorneys.
However, before launching into a discussion of political event studies
in financial markets, I provide some background.
Using high-frequency event studies
, I find the introduction of unconventional policy in the winter of 2008-09 had a strong, stabilizing impact on banks and especially on life insurance companies, consistent with the positive effects on legacy asset prices and future business dominating any impulse for additional risk taking.
and the law: part II: empirical studies of corporate law, American Law and Economics Review 4: 380-423.
152) Following Dura, courts have widely accepted the use of event studies
to establish ex post price distortion or loss causation.
The concerns expressed in the literature are of relevance for catastrophe event studies
and--in particular--the September 11, 2001, attacks (hereafter, "9-11").
Specific examples are presented to illustrate how event studies
are being used by business.
MacKinlay (1997) provides a review of event studies
applied to the areas of economics and finance.
In event studies
of this type, the difference between the expected returns and the actual returns are the abnormal returns, denoted by AR.
The dynamic event studies
performed by the JPL team were unlike most performed for products functioning here on Earth.