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The Information Content of Corporate Investment Announcements: The Case of Joint Ventures

Keown, Arthur J.; Laux, Paul A.; Martin, John D. - In: Research in finance, (pp. 33-71). 2005

Partner firms to the same joint venture experience sharply different stock price reactions. These differences cannot be explained by mechanical factors related to differences in firm size and ownership share in the project, nor are they attributable to different partner roles in the project or...

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