Open Access. Powered by Scholars. Published by Universities.®
Finance and Financial Management Commons™
Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 5 of 5
Full-Text Articles in Finance and Financial Management
Short Selling Around Reverse Stock Splits, Ryan Voges
Short Selling Around Reverse Stock Splits, Ryan Voges
All Graduate Plan B and other Reports, Spring 1920 to Spring 2023
I examine whether short selling increases around reverse stock splits using 2019 daily short selling data instead of bimonthly short interest data required by FINRA. In my difference-in-difference analysis, I find that average short selling increases significantly for firms that reverse split their stock, relative to matched control firms that do not, around the split dates. I also find that firms that reverse split their stock experience negative cumulative abnormal returns in the 20-day period after the reverse stock splits, particularly for those firms that are heavily shorted. These results are in agreeance with existent literature and suggest that short …
Corporate Venture Capital And Its Effects On Company Valuation - An Analysis Of The Additions Of Cvc Arms, Joshua Lyman
Corporate Venture Capital And Its Effects On Company Valuation - An Analysis Of The Additions Of Cvc Arms, Joshua Lyman
All Graduate Plan B and other Reports, Spring 1920 to Spring 2023
This paper examines the stock price reaction to the addition of corporate venture capital arms to publicly traded companies. Referencing venture capital resources, corporate press release announcements of the addition of CVC arms were hand collected. I calculate the cumulative abnormal returns (CARs) surrounding press release announcement dates and find immediate stock market reactions, positively increasing stock prices compared to the overall market. I further perform placebo event studies at random dates and with direct competitors using the same announcement dates and find no significant results. These findings suggest that corporate venture capital increases company valuation and that financial markets …
Mass Shootings And The Performance Of Tourism Stocks, Marshall Deem
Mass Shootings And The Performance Of Tourism Stocks, Marshall Deem
All Graduate Plan B and other Reports, Spring 1920 to Spring 2023
This study investigates the effects of mass shooting events on the performance of the tourism industry within the United States. The results of the study show that outside of the market-wide returns, the performance of tourism stocks is negatively impacted after a large-scale mass shooting event. Furthermore, when separating extreme outliers in the data such as the Las Vegas Mandalay Bay shooting, the results of the study find that tourism stocks surrounding other large-scale mass shootings are significantly negative. Overall, the results of the study demonstrate a negative response in the tourism industry to large-scale mass shootings.
The Performance Of Military Defense Contracted Companies After September 11th, 2001: The Case Of Politically Connected Companies, Derek J. Larsen
The Performance Of Military Defense Contracted Companies After September 11th, 2001: The Case Of Politically Connected Companies, Derek J. Larsen
All Graduate Plan B and other Reports, Spring 1920 to Spring 2023
This paper examines the effect that the terrorist attacks on September 11th, 2001 had on the stock prices of companies within the military defense industry. In addition, this paper studies the effect of the defense firms’ political engagement (through lobbying activities) and how this affected the stock price response to the terrorist attacks. Our study finds that the cumulative abnormal returns of these companies are positively significant and that companies who lobbied experienced higher returns relative to those who did not lobby.
Reanalyzing The Political Stability Of Britain's Democratization, Nathan R. Burton
Reanalyzing The Political Stability Of Britain's Democratization, Nathan R. Burton
All Graduate Plan B and other Reports, Spring 1920 to Spring 2023
A recent article in Journal of Economic History by Dasgupta and Ziblatt uses bond yields to analyze the political risk of the 19th century democratization legislation of Britain known as the Reform Acts. Dasgupta and Ziblatt find that the volatility of yields is relatively high during periods of legislation, and model the yields via GAM method, concluding that the political risk associated with the Reform Acts was high. I reproduce the study and comparing those times of 'high' volatility to all periods and find nothing to compare high-volatility periods to, suggesting that it is inconclusive whether the Reform Acts were …