FINANCIAL RETURN RISK AND THE EFFECT ON SHAREHOLDER WEALTH by Malte Helmut Raudszus ( 9783631622490 )

Item Details

Title:

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

By:

Malte Helmut Raudszus

Format:

Hardback

List price:

£51.30

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£46.17

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10% off

You save:

£5.13

ISBN 10:

363162249X

ISBN 13:

9783631622490

Availability:

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Publisher:

PETER LANG AG

Pub. date:

6 September, 2012

Series:

Corporate Finance and Governance 9

Pages:

183

Description:

A dissertation comprises five studies analyzing daily stock returns of listed firms. It deals with corporate diversification through M&A and how related risk dynamics affect shareholder wealth.

Synopsis:

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.

Publication:

Switzerland

Imprint:

Peter Lang AG

Returns:

Returnable

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FINANCIAL RETURN RISK AND THE EFFECT ON SHAREHOLDER WEALTH