We show that some influential literature supporting the RPM efficiency view is flawed when it relies on the presale service justification for RPM. In particular we consider presale services that do not modify in use value of a good, what we term sterile services. We debunk what we call the Bork...

Purpose – The purpose of this paper is to demonstrate with real data the enhanced statistical power of a GLS-based event study methodology that requires the same input data as the traditional tests. Design/methodology/approach – The paper uses full sample, subsample and simulated modified...

Purpose – The purpose of this paper is to demonstrate with real data the enhanced statistical power of a GLS‐based event study methodology that requires the same input data as the traditional tests. Design/methodology/approach – The paper uses full sample, subsample and simulated modified...