kaal:claim:2629451-026

The data support Hypothesis 2: the market reacts positively at the DOJ announcement and at the start of the N/DPA term and negatively at the end of the term.

Source quote, verbatim

Figures 2 to 4a support Hypothesis 2: The market reacts positively at ANDPAE (E1a) and BNDPAT (E1b) and negatively at ENDPAT (E1c).

From

Wulf A. Kaal, Timothy Lacine, Stock Price Response to Non- and Deferred Prosecution Agreements (2015), VI. Discussion, p. 19
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

evidence drawn from Figures 2 through 4a
94 firm sample, 59 firms at ENDPAT

Classification

empiricalsupport: evidencedresearch-methods

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