kaal:claim:2629451-021

Immediately before the N/DPA term becomes effective, from day minus three to day minus one, the market prices the onset of the term as a negative event.

Source quote, verbatim

suggests that the market assesses the impact of the beginning of the N/DPA term as a negative event immediately before the N/DPAs become effective from t=-3 to t=-1.

From

Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015), IV. Univariate Analyses, p. 11
https://ssrn.com/abstract=2629451 · source PDF

Cite as

Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015). SSRN: https://ssrn.com/abstract=2629451

Holds when

window immediately preceding BNDPAT

Classification

empiricalsupport: evidencedresearch-methods

Verify

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Attestation record: colloquium/attestations/9ceb2a86f7057511...json
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