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| Author: | Arend, R.J. |
| Title: | Volatility-based effects on shareholder value: alliance activity in the computing industry |
| Journal: | Journal of Management
2004 : VOL. 30:4, p. 487-508 |
| Index terms: | Alliances Computer industry Event studies Risk Shareholder value Volatility |
| Language: | eng |
| Abstract: | Event-study analysis is used to understand how alliance activity affects company risk. The risk measure is the implied volatility of a company's stock price and the events are alliance announcements to the market. The authors build on the previous event-studies in the alliance literature that focus on the change in shareholder value by taking the first step in delineating what part of that value arises from the changes in the company's risk. |
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