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This dissertation consists of three empirical studies on capital market efficiency in a broader sense. Two of the three papers are dedicated to the examination of short-term stock-returns in the wake of large one-day price changes – positive or negative. If significant abnormal returns can be...
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Handbook of Frontier Markets: Evidence from Asia and International Comparative Studies provides novel insights from academic perspectives about the behavior of investors and prices in several frontier markets. It explores finance issues usually reserved for developed and emerging markets in...
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This dissertation examines with three independent studies the impact of regulatory changes or potential self-regulation on stock returns and equity risk of affected companies. The focus is therefore laid on the the (renewable) energy sector and on the financial industry. Based on the event study...
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investigates whether firms change their news disclosure behavior when experiencing an exogenous negative shock to their stock price …. We use mutual fund flow-induced selling pressure to measure exogenous undervaluation and classify news as positive and … pressure and the volume of negative news and a positive relationship between selling pressure and the volume of positive news …
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The subject of unobservable variables encompasses this thesis. These latent (i.e., unobservable) variables must be inferred using statistical models or observable proxies. The objectives of my doctoral thesis are to develop and test new statistical models to infer these variables and link them...
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