Analyzing Event Statistics in Corporate Finance PDF Download

Author: Jau-Lian Jeng
Publisher: Springer
ISBN: 1137491604
Category : Business & Economics
Languages : en
Pages : 197

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Book Description
Analyzing Event Statistics in Corporate Finance provides new alternative methodologies to increase accuracy when performing statistical tests for event studies within corporate finance. In contrast to conventional surveys or literature reviews, Jeng focuses on various methodological defects or deficiencies that lead to inaccurate empirical results, which ultimately produce bad corporate policies. This work discusses the issues of data collection and structure, the recursive smoothing for systematic components in excess returns, the choices of event windows, different time horizons for the events, and the consequences of applications of different methodologies. In providing improvement for event studies in corporate finance, and based on the fact that changes in parameters for financial time series are common knowledge, a new alternative methodology is developed to extend the conventional analysis to more robust arguments.

Author: Jau-Lian Jeng
Publisher: Springer Nature
ISBN: 3030538095
Category : Business & Economics
Languages : en
Pages : 239

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Book Description
Providing a comprehensive overview of event study methodology in the field of corporate finance, this book discusses how traditional methods verify the significance and insignificance of events in statistical sampling, and emphasize possible deviation from the statistics of interest. However, the author illustrates the flaws of conventional methodology and proposes alternative methods which can be used for a more robust study of estimating normal and abnormal returns. Traditional methods fail to recognize that the importance of an event will also influence the frequency of the occurrence of the event, and consequently they produce subjective sampling results. This book highlights contemporaneous recursive methods which can be used to track down normal returns and avoid arbitrary determination for the estimation and event period. In addition, the author offers an alternative monitoring scheme to identify the events of concern. Addressing a need for more objective sampling methods in corporate finance event studies, this timely book will appeal to students and academics researching financial econometrics and time series analysis, corporate finance and capital markets.

Author: Cheng F. Lee
Publisher: Center for PBBEFR & Airiti Press
ISBN: 9864371290
Category : Business & Economics
Languages : en
Pages :

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Book Description
Advances in Quantitative Analysis of Finance and Accounting (New Series) is an annual publication designed to disseminate developments in the quantitative analysis of finance and accounting. The publication is a forum for statistical and quantitative analyses of issues in finance and accounting as well as applications of quantitative methods to problems in financial management, financial accounting, and business management. The objective is to promote interaction between academic research in finance and accounting and applied research in the financial community and the accounting profession.

Author: D. Kliger
Publisher: Springer
ISBN: 1137368799
Category : Business & Economics
Languages : en
Pages : 189

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Book Description
Event Studies are overwhelmingly widespread in financial research, providing tools for shedding light on market efficiency, as well as measuring the impact of various occurrences on public firms' security prices. Mastering the Event Study approach is essential for researchers and practitioners alike. Event Studies for Financial Research aims to help readers obtain valuable hands-on experience with Event Study tools and gain technical skills for conducting their own studies. Kliger and Gurevich provide a detailed application of their approach, which consists of: a description of the method; references; guided applications; and elaborated framework for implementing the applications.

Author: Adam Marszk
Publisher: Taylor & Francis
ISBN: 1000175030
Category : Business & Economics
Languages : en
Pages : 220

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Book Description
The book provides deep insight into theoretical and empirical evidence on information and communication technologies (ICT) as an important factor affecting financial markets. It is focused on the impact of ICT on stock markets, bond markets, and other categories of financial markets, with the additional focus on the linked FinTech services and financial institutions. Financial markets shaped by the adoption of the new technologies are labeled ‘digital financial markets’. With a wide-ranging perspective at both the local and global levels from countries at varying degrees of economic development, this book addresses an important gap in the extant literature concerning the role of ICT in the financial markets. The consequences of these processes had until now rarely been considered in a broader economic and social context, particularly when the impact of FinTech services on financial markets is taken into account. The book’s theoretical discussions, empirical evidence and compilation of different views and perspectives make it a valuable and complex reference work. The principal audience of the book will be scholars in the fields of finance and economics. The book also targets professionals in the financial industry who are directly or indirectly linked to the new technologies on the financial markets, in particular various types of FinTech services. Chapters 2, 5 and 10 of this book are available for free in PDF format as Open Access from the individual product page at www.routledge.com. They have been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.

Author: Clifford S. Ang
Publisher: Springer Nature
ISBN: 3030641554
Category : Business & Economics
Languages : en
Pages : 465

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Book Description
This advanced undergraduate/graduate textbook teaches students in finance and economics how to use R to analyse financial data and implement financial models. It demonstrates how to take publically available data and manipulate, implement models and generate outputs typical for particular analyses. A wide spectrum of timely and practical issues in financial modelling are covered including return and risk measurement, portfolio management, option pricing and fixed income analysis. This new edition updates and expands upon the existing material providing updated examples and new chapters on equities, simulation and trading strategies, including machine learnings techniques. Select data sets are available online.

Author: Cheng F. Lee
Publisher: World Scientific
ISBN: 9789810234850
Category : Business & Economics
Languages : en
Pages : 1124

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Book Description
This text integrates various statistical techniques with concepts from business, economics and finance, and demonstrates the power of statistical methods in the real world of business. This edition places more emphasis on finance, economics and accounting concepts with updated sample data.

Author: Michelle R. Clayman
Publisher: John Wiley & Sons
ISBN: 1118217314
Category : Business & Economics
Languages : en
Pages : 530

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Book Description
The book that fills the practitioner need for a distillation of the most important tools and concepts of corporate finance In today's competitive business environment, companies must find innovative ways to enable rapid and sustainable growth not just to survive, but to thrive. Corporate Finance: A Practical Approach is designed to help financial analysts, executives, and investors achieve this goal with a practice-oriented distillation of the most important tools and concepts of corporate finance. Updated for a post-financial crisis environment, the Second Edition provides coverage of the most important issues surrounding modern corporate finance for the new global economy: Preserves the hallmark conciseness of the first edition while offering expanded coverage of key topics including dividend policy, share repurchases, and capital structure Current, real-world examples are integrated throughout the book to provide the reader with a concrete understanding of critical business growth concepts Explanations and examples are rigorous and global, but make minimal use of mathematics Each chapter presents learning objectives which highlight key material, helping the reader glean the most effective business advice possible Written by the experts at CFA Institute, the world's largest association of professional investment managers Created for current and aspiring financial professionals and investors alike, Corporate Finance focuses on the knowledge, skills, and abilities necessary to succeed in today's global corporate world.

Author: Jau-Lian Jeng
Publisher: Springer
ISBN: 3319741926
Category : Business & Economics
Languages : en
Pages : 268

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Book Description
This book analyzes the verification of empirical asset pricing models when returns of securities are projected onto a set of presumed (or observed) factors. Particular emphasis is placed on the verification of essential factors and features for asset returns through model search approaches, in which non-diversifiability and statistical inferences are considered. The discussion reemphasizes the necessity of maintaining a dichotomy between the nondiversifiable pricing kernels and the individual components of stock returns when empirical asset pricing models are of interest. In particular, the model search approach (with this dichotomy emphasized) for empirical model selection of asset pricing is applied to discover the pricing kernels of asset returns.

Author: Ahmed Riahi-Belkaoui
Publisher: Bloomsbury Publishing USA
ISBN: 0313007861
Category : Business & Economics
Languages : en
Pages : 238

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Book Description
Financial analysis, based on ratio analysis, has been used as a tool for analyzing the financial strength of corporations. Although ratio analysis is generally used as a univariate strategy, the accounting and finance literature has evolved to include multivariate-based models in financial analysis, and these models can be used to explain important economic events and often predict them. Thus, in an exhaustive coverage of the economic events to which they can be applied, Riahi-Belkaoui discusses these models in a way that will have special value to corporate management, financial planners, and to their colleagues in the academic community who specialize in business and economic analysis.