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secondhand smoking, smoking bans in casinos remain controversial due to concerns over the potential economic harm to casino firms …. Applying an event study, the authors examine the abnormal returns of casino stocks in response to three unexpected smoking ban … significantly correlated with positive abnormal returns. The findings of this study provide a full picture of the impacts of smoking …
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Second Hand Smoking (SHS), smoking bans in casinos remain controversial due to concerns over potential economic losses for … unexpected announcements of smoking bans in casinos from 2011 to 2015 in Macao. The analysis reveals that the announcements were … correlated with positive abnormal returns. This study provides a full picture of the impacts of smoking bans on casinos and will …
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Macro announcements change the equilibrium riskfree rate. We find that treasury prices reflect part of the impact instantaneously, but intermediaries rely on their customer order flow in the 15 minutes after the announcement to discover the full impact. We show that this customer flow...
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This paper studies the effects of FOMC communication on U.S. financial markets’ returns and volatility using a GARCH model over the period from 1998 to 2006. We build a new data set that includes information on all FOMC speeches, post-meeting statements, monetary policy reports and...
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