A two-step method for assessing enhanced value in turnaround, spin-off, and value stocks
Nicolas Pfister,
Michael J. Kendzia,
Jan-Alexander Posth
Abstract:To assess outright and relative value opportunities in stocks and benchmark their performance against an index with global relevance, it is important to achieve and measure risk-adjusted excess returns. Academic and corporate research has focused quite extensively on analyzing stock returns and comparing the outperformance of specific investment strategies, with value investing being one of the most prominent and longest-known factor strategies. In this event study, to test for the existence of risk-adjusted e… Show more
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