Abstract
Event study is employed by measuring the abnormal return around the event date. If risk changes this methodology is questionable. We suggest the concept of abnormal expect utility which relies on the whole distribution and not just the mean return.
Original language | English |
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Pages (from-to) | 175-180 |
Number of pages | 6 |
Journal | Economics Letters |
Volume | 44 |
Issue number | 1-2 |
DOIs | |
State | Published - 1994 |