We document cycles in corporate investment corresponding with the timing of national
elections around the world. During election years, firms reduce investment expenditures by …

Disclosure: In addition to being a professor at Yale University, the author is currently working
part-time with Standard & Poor's to produce home price indices; with the Chicago Mercantile …

Many authors have identified the hazards of ignoring event-induced variance in event
studies. To determine the practical extent of the problem, we simulate an event with …

We examined the use of event studies in management research and found that there was
inadequate attention paid to theoretical and research design issues. This lack of attention …

We study shock-based methods for credible causal inference in corporate finance research.
We focus on corporate governance research, survey 13,461 papers published between …

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 reviews the economic theory of regulation and surveys the empirical evidence on
its application to past and recent changes in US securities regulation. The theory provides …

Assessing the value of information technology (IT) security is challenging because of the
difficulty of measuring the cost of security breaches. An event-study analysis, using market …

This paper examines whether hostile takeovers can be distinguished from friendly
takeovers, empirically, based on accounting and stock performance data. Much has been …

We propose an approach to measuring the state of the economy via textual analysis of
business news. From the full text of 800,000 Wall Street Journal articles for 1984 to 2017, we …