When shares are traded infrequently, beta estimates are often severely biased. This paper
reviews the problems introduced by infrequent trading, and presents a method for …

Event study methodology has been one of the most frequently used tools in financial
research in recent years. This study provides a review of the present state of knowledge and …

Research in experimental psychology suggests that, in violation of Bayes' rule, most people
tend to “overreact” to unexpected and dramatic news events. This study of market efficiency …

This paper discusses the event study methodology, beginning with FFJR (1969), including
hypothesis testing, the use of different benchmarks for the normal rate of return, the power of …

Published in 1997, this text focuses on the conundrum between the academics ability to
distinguish between failing and non-failing businesses with models of over 85.5 per cent …

Event studies are a popular research paradigm in several fields of business research. They
are now beginning to appear in insurance literature. This article enumerates the steps …

While there has been an abundance of empirical research on the subject of mergers and
acquisitions, little research exists on a closely related topic—voluntary corporate selloffs …

In this survey article, after delineating its historical origin of the Efficient Market Hypothesis
(EMH), the authors summarize from the methodological perspective the empirical findings …

This paper investigates how the political process of making cap adjustments has shaped
market outcomes in the world׳ s largest cap-and-trade system–the EU ETS. Capitalizing on …

This paper investigates the extent to which discounts and premiums provide information
about future expected rates of return on closed-end investment company shares. It is found …