| 标题： | Ball and Brown (1968) after fifty years |
| 时间： | 2021-02-23 15:37:03 |
| DOI： | 10.1016/j.pacfin.2018.12.008 |
| 大小： | 656 kb |
| 页数： | 23 PAGES |
| 下载： | 点击下载 |
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目录：
- Ball and Brown (1968) after fifty years
- Introduction
- Background to the 1968 study
- The reigning research paradigm
- Challenging the paradigm with economic reasoning and systematic evidence
- Resources available to us
- BB68
- Sample construction
- Checking the data
- Defining the announcement event
- Earnings variables
- Estimating abnormal returns
- Principal BB68 results
- Current replication
- Initial remarks
- Replicating BB68 for the USA
- Data
- Method
- Results
- Other countries
- Data
- Method
- Results
- Robustness tests
- Evidence of robustness
- An implication of robustness
- Some questions we have been asked over the years
- Why did BB68 have a larger impact on the literature than other seemingly contemporary studies?
- Was there an impact on practice?
- Does “useful” disprove “meaningless”?
- Were there negative effects of BB68?
- Effect on the prior literature
- Over-emphasis on the equity market
- Who came first?
- Importance of replicability
- Concluding observations
- Acknowledgments
- References
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