Open AccessAnother Look At Theoretical And Em-pirical Issues In Event Study Methodology
Author(s) -
Thomas P. McWilliams,
Victoria B. McWilliams
Publication year - 2011
Publication title -
journal of applied business research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.149
H-Index - 22
eISSN - 2157-8834
pISSN - 0892-7626
DOI - 10.19030/jabr.v16i3.2038
Subject(s) - event (particle physics) , span (engineering) , style (visual arts) , point (geometry) , class (philosophy) , quality (philosophy) , psychology , computer science , mathematics , epistemology , engineering , philosophy , artificial intelligence , literature , art , civil engineering , physics , geometry , quantum mechanics
The goal of this manuscript is to help to improve the integrity of research that uses event study methodology. We discuss issues related to correctly performing event studies and, in some cases, provide alternatives to a variety of recommendations made by McWilliams and Siegel (1997) regarding the application of event study methodology. While McWilliams and Siegel provide a good starting point for providing guidance in the use of event study methodology, our revised recommendations add additional value beyond McWilliams and Siegel by being more consistent with statistical theory, existing research results, and accepted practice. These recommendations, along with those found in McWilliams and Siegel, should lead to higher quality research, regardless of the discipline to which event study methodology is applied.