FDA approval announcements : Attention-grabbing or Event-day misspecification?

The attention-grabbing hypothesis has been offered as a behavioural explanation for post-event abnormal returns for FDA drug approval announcements for NYSE listed firms. We show that when event-day mis-specification is accounted for the market reaction is centred on the event-day and that the increase in firm value is driven by after-market-close approval announcements

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Year of publication:	[2021]
Authors:	Hamill, Philip A. ; Hutchinson, Mark ; Quang Minh Nhi Nguyen ; Mulcahy, Mark B.
Publisher:	[S.l.] : SSRN
Subject:	Ankündigungseffekt \| Announcement effect \| Börsenkurs \| Share price \| Arzneimittelrecht \| Pharmaceutical law

Extent:	1 Online-Ressource (6 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Economics Letters, Vol. 170, 2018 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 30, 2018 erstellt
Classification:	O31 - Innovation and Invention: Processes and Incentives ; G14 - Information and Market Efficiency; Event Studies ; G18 - Government Policy and Regulation ; L11 - Production, Pricing, and Market Structure Size; Size Distribution of Firms
Source:	ECONIS - Online Catalogue of the ZBW

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