search query: @indexterm Event Studies / total: 51
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| Author: | Park, N. K. |
| Title: | A guide to using event study methods in multi-country settings |
| Journal: | Strategic Management Journal
2004 : JUL, VOL. 25:7, p. 655-668 |
| Index terms: | Strategic management Event studies Alliances Multinational companies |
| Language: | eng |
| Abstract: | This study discusses solutions to methodological challenges that emerge when applying the event study method to multiple countries. Specifically, this study develops the world market model, illustrating how simultaneously assess the financial impact of strategic actions in multiple countries. These challenges and solutions are illustrated by an example of a multi-country event study analyzing 241 international alliance announcements of 23 firms in 16 countries. The findings show that the use of the single country market model in a multi-country event study is likely to overestimate changes in firm value, demonstrating the need for this world market model. |
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