kaal:claim:2629451-032

Market reaction to N/DPAs is industry specific, supporting the hypothesis that investors in some industries are more sensitive to N/DPA effects than investors in others.

Source quote, verbatim

We find industry-specific effects that support Hypothesis 4.

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

ten industry sub-clusters identified via Morningstar categories and Russell 1000 industry indices

Classification

empiricalsupport: assertedinstitutional-design

Verify

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