Law Commons^™

Lessons From Single-Company Event Studies: The Importance Of Controlling For Company-Specific Events, Scott D. Hakala

Scott D Hakala

Single-company event studies are commonly employed in applied practice, such as in analyzing market efficiency, reliance, and damages in securities litigation. However, the presence of significant company-specific events among the observations used to estimate the market model results in significantly biased, overstated standard errors (a well-known omitted variables problem) and less reliable coefficient estimates in such studies. This is a frequently over-looked or neglected issue that renders the statistical inferences in single-company event studies employing using more traditional event study techniques biased and often unreliable. This paper demonstrates through simulation and actual examples that, even allowing for errors in implementation, …

Flexible Work Arrangements: The Fact Sheet, Jean Flatley Mcguire, Kaitlyn Kenney, Phyllis Brashler

Memos and Fact Sheets

A "flexible work arrangement" (FWA) is any one of a spectrum of work structures that alters the time and/or place that work gets done on a regular basis. The term includes (but is not limited to):

1. flexibility in the scheduling of hours worked, such as alternative work schedules (e.g., flex time and compressed workweeks), and arrangements regarding shift and breack schedules:

2. flexibility in the amount of hours worked, such as part-time work and job shares; and

3. flexibility in the place of work, such as working at home or at a satellite location.