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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
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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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