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Tadas Viskanta runs the finance blog Abnormal Returns. It's one of the most useful and thought-provoking reads out there, offering a mix of links from other financial writers and wisdom from Tadas ...
For much of his career, Tadas Viskanta has taken the traditional path in finance. He was even the founder of a hedge fund. Then in 2005, he made a big change -- starting an investment blog. It was ...
In finance, an abnormal return is the difference between the actual return of a security and the expected return.Abnormal returns are sometimes triggered by "events." Events can include mergers, dividend announcements, company earning announcements, interest rate increases, lawsuits, etc. all of which can contribute to an abnormal return.
In finance, Jensen's alpha [1] (or Jensen's Performance Index, ex-post alpha) is used to determine the abnormal return of a security or portfolio of securities over the theoretical expected return. It is a version of the standard alpha based on a theoretical performance instead of a market index .
Thereafter, the method deducts this 'normal returns' from the 'actual returns' to receive 'abnormal returns' attributed to the event. Event studies, however, may differ with respect to their specification of normal returns. The most common model for normal returns is the 'market model' (MacKinlay 1997).
For firms that report good news in quarterly earnings, their abnormal security returns tend to drift upwards for at least 60 days following their earnings announcement. Similarly, firms that report bad news in earnings tend to have their abnormal security returns drift downwards for a similar period. This phenomenon is called post-announcement ...
Few filmmakers capture grit and texture like James Mangold. Known for crafting evocative, emotionally resonant films such as Logan (2017) and Walk the Line (2005), Mangold excels at embedding ...
The failure by World Bank and Laotian officials to recognize the dam’s full effects on people above and below the dam means that the compensation offered to farmers and fisherfolk “didn’t come close to making up for their losses,” Shoemaker says.