{"id":{"repo_id":"bologna","oai_identifier":"oai:amsdottorato.cib.unibo.it:1252"},"canonical_url":"https://search.dev.ndltd.org/etd/bologna/oai:amsdottorato.cib.unibo.it:1252","repository":{"repo_id":"bologna","name":"Università di Bologna","base_url":"https://amsdottorato.unibo.it/cgi/oai2"},"display":{"title":"Multi-Country Event Study Methods","abstract":"Which event study methods are best in non-U.S. multi-country samples? Nonparametric tests, especially the rank and generalized sign, are better specified and more powerful than common parametric tests, especially in multi-day windows. The generalized sign test is the best statistic but must be applied to buy-and-hold abnormal returns for correct specification. Market-adjusted and market-model methods with local market indexes, without conversion to a common currency, work well. The results are robust to limiting the samples to situations expected to be problematic for test specification or power. 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Dottorato di ricerca in Mercati e intermediari finanziari <https://amsdottorato.unibo.it/view/dottorati/DOT275/>, 21 Ciclo. DOI 10.6092/unibo/amsdottorato/1252."]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["Which event study methods are best in non-U.S. multi-country samples? Nonparametric tests, especially the rank and generalized sign, are better specified and more powerful than common parametric tests, especially in multi-day windows. The generalized sign test is the best statistic but must be applied to buy-and-hold abnormal returns for correct specification. Market-adjusted and market-model methods with local market indexes, without conversion to a common currency, work well. The results are robust to limiting the samples to situations expected to be problematic for test specification or power. 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