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Event Studies and the Law: Part II - Empirical Studies of Corporate Law

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  • Sanjai Bhagat
  • Roberta Romano

Abstract

This paper is the second part of a review of the event study methodology, which has proved to be one of the most successful uses of econometrics in policy analysis. In this part we focus on the methodology's application to corporate law and corporate governance issues. Event studies have played an important role in the making of corporate law and in corporate law scholarship. The reason for this input is twofold. First, there is a match between the methodology and subject matter: the goal of corporate law is to increase shareholder wealth and event studies provide a metric for measurement of the impact upon stock prices of policy decisions. Second, because the participants in corporate law debates share the objective of corporate law, to adopt policies that enhance shareholder wealth, their disagree

Suggested Citation

  • Sanjai Bhagat & Roberta Romano, 2001. "Event Studies and the Law: Part II - Empirical Studies of Corporate Law," Yale School of Management Working Papers amz2453, Yale School of Management, revised 01 Sep 2002.
    • Handle: RePEc:ysm:wpaper:amz2453
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    File URL: https://repec.som.yale.edu/icfpub/publications/2453.pdf
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    Cited by:

    1. Laure de Batz & Evžen Kočenda & Evžen Kocenda, 2023. "Financial Crime and Punishment: A Meta-Analysis," CESifo Working Paper Series 10528, CESifo.
    2. Salma Damak & Hend Guermazi & Adel Beldi, 2022. "The Stock Market Reaction to Securities Class Action Filings," International Journal of Economics and Financial Issues, Econjournals, vol. 12(6), pages 127-132, November.
    3. Yiwei Li & Wei Song & Tingyu Sun & Qingjing Zhang, 2023. "The impact of shareholder litigation risk on income smoothing," Review of Quantitative Finance and Accounting, Springer, vol. 61(4), pages 1379-1413, November.

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