What is “News”? What is an “Event study”? China Edition

Remarks by a reader indicate it’s worthwhile to recap this topic. Consider: If markets are informationally efficient, corporate news events such as earnings announcements should be immediately reflected in stock prices. Now, actually checking stock-price reactions to corporate events is also not as straightforward as it sounds. But Gene and his coauthors provided the standard … Continue reading What is “News”? What is an “Event study”? China Edition