Financial Return Risk and the Effect on Shareholder Wealth - How M&A Announcements and Banking Crisis Events Affect Stock Mean Returns and Stock Return Risk- A Compendium of Five Empirical Studies across Selective Industries (Hardcover, New edition)

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.

General

Imprint:	Peter Lang Ag
Country of origin:	Switzerland
Series:	Corporate Finance and Governance, 9
Release date:	September 2012
First published:	2012
Authors:	Malte Raudszus
Dimensions:	210 x 148 x 17mm (L x W x T)
Format:	Hardcover
Pages:	183
Edition:	New edition
ISBN-13:	978-3-631-62249-0
Categories:	Books > Reference & Interdisciplinary > Communication studies > Data analysis Books > Business & Economics > Economics > Economic theory & philosophy Books > Business & Economics > Business & management > Management of specific areas > Budgeting & financial management
LSN:	3-631-62249-X
Barcode:	9783631622490

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