Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Financial Return Risk and the Effect on Shareholder Wealth: How M&A Announcements and Banking Crisis Events Affect Stock Mean Returns and Stock Return

Financial Return Risk and the Effect on Shareholder Wealth: How M&A Announcements and Banking Crisis Events Affect Stock Mean Returns and Stock Return

Raudszus, Malte
Schiereck, Dirk

Hardcover

Series: Corporate Finance and Governance, Book 9

EconomicsInvesting & FinanceGeneral Mathematics

ISBN10: 363162249X
ISBN13: 9783631622490
Publisher: Peter Lang
Published: Sep 6 2012
Pages: 183
Weight: 0.89
Height: 0.50 Width: 5.83 Depth: 8.27
Language: English
This dissertation comprises five studies analyzing daily stock returns of listed firms. Studies one and two shed light on corporate diversification through M&A and how related risk dynamics affect shareholder wealth. Carrying over the risk analysis methodology 'GARCH' to external events in studies three and four, the author individually scrutinizes the adverse implications of bank failures and bailouts in the 2007-2009 financial crisis. Finding opposing return shocks, he identifies the limits of the 'symmetric' GARCH. As observed of the behavior of stock return data, volatility reacts asymmetrically to positive and negative return shocks. The advanced EGARCH incorporates this so called 'leverage effect'. Applying the EGARCH in his final study, the author can simultaneously scrutinize the adverse bank events with an appropriate econometric foundation.

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General Mathematics

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