Bajo, Emanuele; Bigelli, Maroc; Sandri, Sandro - In: Journal of Management and Governance 2 (1998) 1, pp. 1-16
Based on a study of new investment announcements from 1989 to 1995 by Italian firms listed on the Milan Stock Exchange, we find a positive stock price reaction to new investment decisions. The stock price reaction is larger for joint venture announcements. The market response is also larger for...
