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dc.contributor.authorØdegården, Sebastian
dc.contributor.authorLaugen, Jon
dc.date.accessioned2019-10-28T11:06:37Z
dc.date.available2019-10-28T11:06:37Z
dc.date.issued2019
dc.identifier.urihttp://hdl.handle.net/11250/2624854
dc.descriptionMasteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2019nb_NO
dc.description.abstractIn this thesis, we study the effects of shareholder activism announcement on company stock returns. We focus on an announcement in the Government Pension Fund Global, on the 23rd of November 2004. We perform an event study where we use a control-firm approach, as well as the Fama- French three-factor model to estimate cumulative abnormal returns in ±1, ±3, and ±6 day(s) event windows. In testing the significance of abnormal performance, simple regressions and t-tests yield a biased result because of issues of event clustering. When mitigating cross-correlation in abnormal returns, using the adjusted BMP-test (Kolari & Pynnönen, 2010), no significant announcement effect is observed. This is supported by a supplementary non-parametric test.nb_NO
dc.language.isoengnb_NO
dc.publisherHandelshøyskolen BInb_NO
dc.subjectfinansnb_NO
dc.subjectfinancenb_NO
dc.titleThe Announcement Effect of Shareholder Activism: Evidence from the Government Pension Fund Globalnb_NO
dc.typeMaster thesisnb_NO


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