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Changes of Executives and Ownership in a Romanian Small Bank: an Event Study Approach

Author

Listed:
  • Bogdan Capraru

    (Alexandru Ioan Cuza University of Iasi)

  • Iulian Ihnatov

    (Alexandru Ioan Cuza University of Iasi)

  • Nicu Sprincean

    (Alexandru Ioan Cuza University of Iasi)

Abstract

The aim of this paper is to study the impact of four different events on the evolution of stock prices of Banca Comerciala Carpatica, using event study methodology. The series of events ended with a substantial change of the bank ownership. In determining the expected returns, we employ two different models: Market Model and Capital Asset Pricing Model (CAPM). Our results show that in three out of four events there is a significant impact of the event, both in the pre- and in the post-event days from the event window.

Suggested Citation

  • Bogdan Capraru & Iulian Ihnatov & Nicu Sprincean, 2016. "Changes of Executives and Ownership in a Romanian Small Bank: an Event Study Approach," EuroEconomica, Danubius University of Galati, issue 1(35), pages 36-46, may.
    • Handle: RePEc:dug:journl:y:2016:i:1:p:36-46
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    File URL: http://journals.univ-danubius.ro/index.php/euroeconomica/article/view/3311/3248
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    References listed on IDEAS

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