Convertible Bond Issues And Equity Price Impacts
Convertible Bond Issues And Equity Price Impacts
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In our eReader you can find the full English version of the book. Read Convertible Bond Issues And Equity Price Impacts Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Convertible Bond Issues And Equity Price Impacts
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These daily excess returns are then com- bined to form 60 two-day excess returns for each firm, the thirtieth, t = 30, of which contains the event date and the preceding day. The two-day excess returns are then aver- aged at each time t, t = 1 to 60, across the firms in the sample.
where AERt = 1/n I ER^ ^ j ^' j = 1 to n t = 1 to 60 AER^ = the average 2 -day excess return for the n firms in the sample at time t ^^j,t = ^^^ 2 -day excess return for firm j at time t n = the number of firms in th...e sample 68 To test the significance of each average two-day excess return a Student's T-test will be performed. The standard deviation of the 2 -day abnormal returns is estimated from the 59 2-day average excess returns from trading days -60 to -2 and +1 to +60. Calculating the standard deviation in this manner avoids any potential effects of abnormal vari- ance on the event date.
In most of the empirical tests the sample will be strat- ified in some fashion to identify any equity price impact related to the variable by which the firms have been strat- ified.
What to read after Convertible Bond Issues And Equity Price Impacts?
You can find similar books in the "Read Also" column, or choose other free books by Kuhlman, Bruce Robert to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
These daily excess returns are then com- bined to form 60 two-day excess returns for each firm, the thirtieth, t = 30, of which contains the event date and the preceding day. The two-day excess returns are then aver- aged at each time t, t = 1 to 60, across the firms in the sample.
where AERt = 1/n I ER^ ^ j ^' j = 1 to n t = 1 to 60 AER^ = the average 2 -day excess return for the n firms in the sample at time t ^^j,t = ^^^ 2 -day excess return for firm j at time t n = the number of firms in th...e sample 68 To test the significance of each average two-day excess return a Student's T-test will be performed. The standard deviation of the 2 -day abnormal returns is estimated from the 59 2-day average excess returns from trading days -60 to -2 and +1 to +60. Calculating the standard deviation in this manner avoids any potential effects of abnormal vari- ance on the event date.
In most of the empirical tests the sample will be strat- ified in some fashion to identify any equity price impact related to the variable by which the firms have been strat- ified.
What to read after Convertible Bond Issues And Equity Price Impacts?
You can find similar books in the "Read Also" column, or choose other free books by Kuhlman, Bruce Robert to read onlineMoreLess
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