Martins, António Miguel; Serra, Ana Paula - International Association of Sport Economists - IASE; … - 2007
found important by previous studies and control for the prior probability of observing the event. Third, on the basis of a … around) the announcement date using an event study methodology. We study the impact at market and industry-levels. Second, we … behavior. Our initial results suggest that the abnormal returns measured at the announcement date and around the event are not …