We examine the relationship between geopolitical risk (GPR) and corporate investments considering 395 Indian hotel and restaurant industry firms from 2003 to 2020. The choice of this industry is motivated by the fact that they require recurrent investments in fixed assets. We find a...

This paper proposes a novel standardized test for abnormal returns in long-horizon event studies that takes into account cross-sectional correlation, autocorrelation, and hetersoskedasticity of stock returns. Extensive simulation analyses demonstrate improved size and power of testing relative...

This paper investigates the robustness of existing long-run event study methodologies using the Asia-Pacific security market data. In doing so, the study employs the buy-and-hold abnormal return approach and the calendar time portfolio method to measure the return anomalies. Since each of these...