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Full-Text Articles in Business
Event-Study Methodology Under Conditions Of Event-Induced Variance, Ekkehart Boehmer, Jim Masumeci, Annette B. Poulsen
Event-Study Methodology Under Conditions Of Event-Induced Variance, Ekkehart Boehmer, Jim Masumeci, Annette B. Poulsen
Research Collection Lee Kong Chian School Of Business
Many authors have identified the hazards of ignoring event-induced variance in event studies. To determine the practical extent of the problem, we simulate an event with stochastic effects. We find that when an event causes even minor increases in variance, the most commonly-used methods reject the null hypothesis of zero average abnormal return too frequently when it is true, although they are reasonably powerful when it is false. We demonstrate that a simple adjustment to the cross-sectional techniques produces appropriate rejection rates when the null is true and equally powerful tests when it is false.
Reuse And Productivity In Integrated Computer-Aided Software Engineering: An Empirical Study, Rajiv D. Banker, Robert J. Kauffman
Reuse And Productivity In Integrated Computer-Aided Software Engineering: An Empirical Study, Rajiv D. Banker, Robert J. Kauffman
Research Collection School Of Computing and Information Systems
Growing competition in the investment banking industry has given rise to increasing demand for high functionality software applications that can be developed in a short period of time. Yet delivering such applications creates a bottleneck in software development activities. This dilemma can be addressed when firms shift to development methods that emphasize software reusability. This article examines the productivity implications of object and repository-based integrated computer-aided software engineering (ICASE) software development in the context of a major investment bank's information systems strategy. The strategy emphasizes software reusability. Our empirical results, based on data from 20 projects that delivered software for …