Kahra, Hannu; Kanto, Antti; Schadewitz, Hannu; Blevins, … - In: The European Journal of Finance 12 (2006) 1, pp. 61-75
For over 30 years, observers of financial markets have been puzzled by the behaviour of the market model residuals. This research offers one answer to two of the questions raised by the anomalous behaviour of the residuals. The first is the failure of cumulative abnormal residuals (CARs) to be...
