More specifically, using the event study
methodology developed by Campbell, Lo, and MacKinlay (1997) and MacKinlay (1997), we will examine the stock price reactions of listed companies in polluting industries to the upgrading of the SEPA to the MEP in 2008.
(2017) carried out an event study
analysis to investigate the abnormal stock returns following the Brexit referendum.
* Chen Lin, Chinese University of Hong Kong; Randall Morck, University of Alberta, Edmonton; Bernard Yeung, National University of Singapore; and Xiaofeng Zhao, Lingnan University, "Anti-Corruption Reforms and Shareholder Valuations: Event Study
Evidence from China"
To investigate this issue in this event study
political and terrorist events are considered as the external information.
Morningstar used two approaches in its analysis: a Fama-MacBeth regression to measure the relationship between the rating and performance of related funds and an event study
framework to measure the performance of a given rating over different time (event) horizons, ranging from one month to 60 months.
In sections on case examples, organizational forms, and consequences of fragmenting, they consider such aspects as new business models in-the-making in extant multinational corporations: digital transformation in a telco, global integration strategies in time of crisis: an event study
of the impact of the global financial crisis on the exporting strategies of Turkish subsidiaries, tied up and shocked: how relational contracting with suppliers constrains global buyers during an economic crisis, global shift-back's: a strategy for reviving manufacturing competencies, and industrial district firms do not smile: structuring the value chain between local and global.
In the event study
methodology, we only need to look in for returns as this study assumes that all other factors are reflected in stock price changes due to efficient market hypothesis and this is what makes event study
methodology extremely popular with the researchers.
With this goal in mind, we analyze the target, bidder and combined bank cumulative abnormal returns (CARs) utilizing standard event study
First, we use an event study
methodology to examine stock returns, which isolates the effect of a catastrophe from other factors that may impact the insurance market.
Rosa (2012) used an event study
to examine the surprise component of LSAP announcements.
The methodology builds on the setup put forward by Calin (2015) and relies on an event study