Search for Articles:
Title / Keyword
Author / Affiliation / Email
Journal
Article Type
 
 
Advanced Search
 
Section
Special Issue
Volume
Issue
Number
Page
 
2.8
Journals
JRFM
Special Issues
Event Study in Finance and Economics
share announcement

Event Study in Finance and Economics

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Economics and Finance".

Deadline for manuscript submissions: closed (28 February 2023) | Viewed by 9761

Special Issue Editors

Dr. Marcin Potrykus

E-Mail Website
Guest Editor
Faculty of Management and Economics, Gdańsk University of Technology, Gdańsk, Poland
Interests: corporate finance; alternative investments; portfolio choice; investment decisions; information and market efficiency; event study
Dr. Błażej Prusak

E-Mail Website
Guest Editor
Faculty of Management and Economics, Gdańsk University of Technology, Gdańsk, Poland
Interests: corporate bankruptcy prediction; institutional aspects of corporate bankruptcy; risk management; business valuation
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Nowadays, we note many events that have a significant impact on economic phenomena. An example is the impact of COVID-19 on the functioning of the global economy and stock exchanges.

Although the concept of event study has been known for about 50 years (a first paper using an event study in “today’s form” was written in 1969 by Fama, Fisher, Jensen and Roll), and it is still present in world literature. It has evolved and constantly improved as well as been  used to analyse the impact of more and more events.

We expect publications of a theoretical and empirical nature, which will be an important contribution to the development of literature on this issue. The topics covered in this Special Issue will include (but are not limited to) the following areas: classic event study, intraday event study, short-term event study, long-run event study, volume event study, volatility event study, reverse event study, price reaction on negative and positive events, applications for preparing data to conduct event study, characteristics of data sources for an event study, and the outliers problem in event study. We expect publications from the related topics to use event study in finance, economy, politics, sport and many other fields where this methodology was used or will be used for the first time.

Dr. Marcin Potrykus
Dr. Błażej Prusak
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • using an event study (classic, intraday, short-term, long-run, volume, volatility, reverse) in different areas
  • applications for an event study
  • comparative analysis of using different expected return models
  • event study methodology (return models, duration of estimation and test windows, significance tests) and data sources

Published Papers (3 papers)

Download All Papers
Order results
Result details
Show export options expand_more Show export options expand_less
Select all
Export citation of selected articles as:

Research

10 pages, 1142 KiB  
Article
New Evidence on the Information Content of Earnings Announcements for the Swiss Market
by Armin Bänziger, Alexander Pitthan, Thomas Gramespacher and Ursina Hüppin
J. Risk Financial Manag. 2023, 16(3), 156; https://doi.org/10.3390/jrfm16030156 - 01 Mar 2023
Cited by 1 | Viewed by 1421
Abstract
A semi-strong efficient market incorporates relevant new information immediately. Using an event study, we investigate whether and to what extent regular earnings announcements of Swiss companies listed on the Swiss Market Index show the expected effects in share prices. For this purpose, we [...] Read more.
A semi-strong efficient market incorporates relevant new information immediately. Using an event study, we investigate whether and to what extent regular earnings announcements of Swiss companies listed on the Swiss Market Index show the expected effects in share prices. For this purpose, we test for abnormal returns caused by earnings announcements in the period from 2012 until 2022. In contrast to previous studies of the Swiss market, we find that deviations from analysts’ expected earnings lead to pronounced immediate movements in stock prices, as predicted by the semi-strong efficient market hypothesis. Pre- and post-announcement abnormal returns are modest and generally not statistically significant. Full article
(This article belongs to the Special Issue Event Study in Finance and Economics)
►▼ Show Figures

Figure 1

18 pages, 334 KiB  
Article
CEO Duality: Newspapers and Stock Market Reactions
by Marco Caiffa, Vincenzo Farina and Lucrezia Fattobene
J. Risk Financial Manag. 2021, 14(1), 35; https://0-doi-org.brum.beds.ac.uk/10.3390/jrfm14010035 - 13 Jan 2021
Cited by 5 | Viewed by 3034
Abstract
This study aims to investigate the unsettled issue of the relationship between CEO duality and a firm’s value through the perspective of investors’ reaction to news which mention apical directors with a single role and Board Chair CEOs. With a unique and hand-collected [...] Read more.
This study aims to investigate the unsettled issue of the relationship between CEO duality and a firm’s value through the perspective of investors’ reaction to news which mention apical directors with a single role and Board Chair CEOs. With a unique and hand-collected database of 60,805 newspaper articles, text-analysis, event-study and regression analysis methodologies were applied to capture news sentiment and study the direction and the magnitude of the stock market reaction. Results reveal that news mentioning Board Chair CEOs are negatively processed by investors, revealing a negative perception by investors about CEO duality. The study provides empirical support for the agency theory, in contrast to the stewardship theory, in the interpretation of CEO duality. It also proposes the methodology of systematically quantifying language to explore corporate governance issues and their link with financial markets. Full article
(This article belongs to the Special Issue Event Study in Finance and Economics)
18 pages, 2003 KiB  
Article
The Event of Croatia’s EU Accession and Membership from the Croatian High School Students’ Perspective
by Anamarija Pisarović, Sanja Tišma, Krševan Antun Dujmović and Mira Mileusnić Škrtić
J. Risk Financial Manag. 2021, 14(1), 2; https://0-doi-org.brum.beds.ac.uk/10.3390/jrfm14010002 - 23 Dec 2020
Cited by 2 | Viewed by 3286
Abstract
The knowledge, attitudes and perceptions of the high school students on Croatia’s European Union (EU) accession event were omitted in numerous public opinion polls conducted since the 2013 accession. Therefore, the paper shows key benefits of Croatia’s EU accession and the recent attitudes [...] Read more.
The knowledge, attitudes and perceptions of the high school students on Croatia’s European Union (EU) accession event were omitted in numerous public opinion polls conducted since the 2013 accession. Therefore, the paper shows key benefits of Croatia’s EU accession and the recent attitudes of high school students about the meaning of this event for their future lives. Research methods include desktop analysis regarding previous researches of the population attitudes and a quantitative survey conducted in January 2017 on a sample of a total of 1944 school graduates who were interviewed on issues of knowledge, perception and attitude to the event of Croatia’s entrance and membership in the EU. The results point out that although Croatia acquires significant benefits from the EU accession, the very event is not recognized as being the key one by high school students. Considering that in many cases the youth opinion is the best indicator of overall social problems and considering the future programs and obligations as well as the role expected from the youth in implementation of these programs, the research findings on the perception of the event of Croatia’s accession to the EU are a field within which future policy activities are envisaged. Full article
(This article belongs to the Special Issue Event Study in Finance and Economics)
►▼ Show Figures

Figure 1

Show export options expand_more Show export options expand_less
Select all
Export citation of selected articles as:
 
Displaying articles 1-3
Back to TopTop