Jerold B. Warner

TL;DR: In this paper, the authors examine properties of daily stock returns and how the particular characteristics of these data affect event study methodologies and show that recognition of autocorrelation in daily excess returns and changes in their variance conditional on an event can sometimes be advantageous.

TL;DR: In this article, observed stock return data are employed to examine various methodologies which are used 111 event studies to measure security price performance, and abnormal performance is introduced into this data and misuse of any of the methodologies can result in false inferences about the presence of abnormal performance.

TL;DR: In this article, the authors examine ways in which debt contracts are written to control the conflict between bondholders and stockholders and find that extensive direct restrictions on production/investment policy would be expensive to employ and are not observed.

TL;DR: In this paper, the authors studied the association between a firm's stock returns and subsequent top management changes and found that there is an inverse relation between the probability of a management change and the firm's share performance.