This study empirically examines the effectiveness of Fed intervention on the USD/DM exchange market using an event study approach. The event window is defined as 4 (8) days prior/post an intervention. Based on the empirical analysis, the results show that when the Fed follows an "against the...

Abstract In the aftermath of the recent financial crisis, the central banks of small open economies such as the Swiss National Bank (SNB) implemented a unilateral one-sided exchange rate target zone vis-à-vis the euro currency to counteract deflationary pressures. Recently, the SNB abandoned...

Purpose – This paper aims to examine regime switching behaviour of the nominal exchange rate in Uganda to shed light on the necessity (as well as efficacy) of the participation of the central bank market. Design/methodology/approach – The homogenous two‐state Markov chain methodology was...

Purpose The purpose of this paper is to examine the effect of political connections in the value of companies listed on the Spanish stock market. Design/methodology/approach The authors study two issues on this topic: the impact on the company value of the appointment as director of an...

Purpose – The purpose of this paper is to investigate the relationships between regulatory changes, returns on equity and stock market valuations for Canadian food and non‐food agribusinesses. Design/methodology/approach – Two empirical approaches are employed. First, an event study is...

Purpose – The purpose of this paper is to determine the impact of the passage and signing of P.L. 111-353, the Food Safety Modernization Act (FSMA), on the market value of agribusiness firms. Design/methodology/approach – The authors conduct an event study of the shareholder value effects of...

Purpose – The purpose of this paper is to review the archival literature on market reactions to qualified audit reports and to seek to identify the different approaches used in those studies. In addition, the paper discusses the strengths and weaknesses of different approaches, summarizes key...

Purpose This paper aims to address the question of whether acquiring firm directors trading, prior to a merger or acquisition (M&A) announcement, predicts the share market reaction on M&A announcement. Design/methodology/approach Event studies and cross-section regression were used in this...

Purpose The purpose of this paper is to examine the effects of China’s Food Safety Law on its food industry. Design/methodology/approach First, an event study is employed to investigate the impact of regulatory changes on the food industry. Then the authors examine the association between the...

Purpose – This paper seeks to explore empirically the shareholder reactions to an officer leave of absence (OLOA) announcement. Design/methodology/approach – A standard event study methodology is applied to daily stock holding period returns. The sample studied consists of 104 firms...