Bhagat, Sanjai; Dong, Ming; Hirshleifer, David; Noah, Robert - 2004 - [Elektronische Ressource]
. Like most past studies, the return cumulation
window extends only a short time after the event. PSM then adjusts returns … short
event window that extends only a few days past the bid announcement date estimates only
a fraction of the value …
revelation bias, which taints estimates of the gain to takeover in past market and accounting
studies. A disadvantage of IM …