Publisher Summary This chapter reviews the theory and statistical evidence concerning the
causes and effects of seasoned public offers (SPOs) of common stock, with particular …

This paper provides the first documentation of the power and specification of the generalized
sign test, which is based on the percentage of positive abnormal returns in an estimation …

This article examines the issue of cross-sectional correlation in event studies. When there is
event-date clustering, we find that even relatively low cross-correlation among abnormal …

This paper presents a modest attempt to review the existing methodologies for measuring
short-run abnormal performance of firms following certain corporate events. In doing so, the …

In this article we investigate the impact of the Enron audit failure on auditor reputation.
Specifically, we examine Arthur Andersen's clients' stock market impact surrounding various …

This study extends the literature on the information content of stock message boards. To
better understand the effect of online postings on trading activities and reduce the error due …

Substantial research has been conducted to determine the signal that results from dividend
initiations and omissions. Our study extends from previous research by measuring the long …

The Lehman bankruptcy highlights the potential for interconnectedness to cause negative
externalities through counterparty contagion, but the externalities may also arise from …

This paper investigates FTSE 100 index membership changes, which are determined
quarterly by market capitalization and should have no information content. Return reversal …

Event study methods to test the effects of financial events on asset returns implicitly assume
a stationary variance. Arbitrage theory [Ross (1989)], however, suggests that the variance of …