No news found.

Hyvää kesää! Twiittejä yliopistostamme taas elokuussa. Have a nice summer! Tweets from our University next time in August. #univaasa


Dissertation: Essays on Testing Long-Run Abnormal Stock Returns

Posted on 19/05/15.


Although long-run event studies have seen many advances over the years, the proper methodology for measuring the stock price performance of firms for periods of one to five years following certain corporate events is much debated in the literature. While a large number of recent studies consider applying the buy-and-hold abnormal return (BHAR) approach and the calendar time portfolio (CTP) method for investigating long-term anomalies, each of the methods is a subject to criticisms. A fundamental choice for many recent studies, therefore, concerns the measure of long-run stock price performance.