Year: 2014
Type: article
Abstract: 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 study discusses different parametric as well as nonparametric testing procedures available in the literature. Reviewing the prior literature reveals that the nonparametric sign and rank tests are better specified than parametric procedures. However, in case of detecting the short-run anomalies, we document that nonparametric tests have higher power relative to standard parametric approaches.
Source: International Business Research
Author: Anupam Dutta
Institution: University of Vaasa
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W1979697693