出版社：LLC “Consulting Publishing Company “Business Perspectives”
摘要：Although long-term event studies have seen many advances over the years,the interpretation of long-run results is still problematic.In the present paper,the authors review a large number of long-run event studies and find that the analysis of long-run abnormal performance is perfidious.In addition,an empirical example is given to compare several measures of long run stock price performance.The empirical analysis shows that a recently proposed calendar time portfolio method has better performance than the conventional approaches.However,despite these positive developments in long-run event study methodology,the power and specification issues still remain unsolved and further filtering of the existing approaches is thus required for solving such issues.
