Purpose – This study aims to explore the mutual relation of corporate accidents, stock market responses, and media coverage. Design/methodology/approach – This paper empirically investigated 119 listed firms' accidents during the 2005-2012 period using the methods of event study, correlation...

Summary We study the response of the German stock market index DAX to the announcement of macroeconomic business cycle forecasts. Returns are computed using high-frequency data observed for 15-second intervals. Publications of macroeconomic US indicators at 2:30 p.m. (CET) have temporary and...

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 re-examine the relationship between a country’s aggregate stock market and general economic development for 14 emerging economies for the period from 1995 to 2014. Design/methodology/approach The methodological approach of the paper is multifold. First,...

Logistics researchers often want to understand how particular management changes or external factors influence a firm. While this can be accomplished using operational or survey data, the authors outline an alternative approach using the event study method where inferences are made with the...

In this article, the authors examine the distribution of the stock returns for the acquiring firm and the corresponding market index. They find that significant non-normal distributions exist in a large number of acquiring firms. The authors use two robust regressions to examine the reliability...

After the September 11th attacks, passengers avoided air travel. Hence, companies competing with air carriers may have benefited from the terrorist attacks. Using the market model with a dummy variable and generalized autoregressive conditional heteroskedasticity (GARCH) for an event study, we...

Summary This paper analyzes the effect of the 2002 German federal elections to the Lower House of Parliament (Bundestag) on the financial performance of German energy corporations.We consider the last minute victory of the government coalition consisting of Social Democrats and the Green party...

Purpose – The purpose of this paper is to verify if, in case of a shock event, there are types of corporate announcement that may influence stock price behaviour better than others. The authors also try to determine if the communication strategy may be affected by the type of shock event....

Structured sale and leasebacks and corporate property asset outsourcing are often claimed to have benefits that seem to be inconsistent with financial theory. Eight such UK deals are analysed to investigate the impact on corporate value. The results show that impacts are contingent ‐ on the...