Matvos, Gregor (contributor); Ostrovsky, Michael (contributor) - 2006
, S., and J. Warner, 1985. Using daily stock returns, the case of event studies.
Journal of Financial Economics, 14, 3 …, is by no means an exception—many studies show
that average returns to acquiring-firm shareholders are negative, or at … significant, in line with previous studies.
Announcement returns to cross-owners, on the other hand, are on average positive …