Announcements of withdrawal from South Africa revisited: Making sense of contradictory event study findings

• 成果类型: Article
• 署名作者: Meznar, MB; Nigh, D; Kwok, CCY
• 署名单位: Arizona State University; Arizona State University-Downtown Phoenix; University of South Carolina System; University of South Carolina Columbia
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• DOI: 10.5465/256967
• 发表日期: 1998
• 页码: 715-730
• 关键词: security-price performance; management; synergy

摘要

This research addressed empirical and conceptual issues raised by McWilliams and Siegel (1997) in light of the contradictory findings of several recent event studies dealing with announcements of withdrawal from South Africa. We concluded that the timing of withdrawal announcements is critical to understanding their impact and offer several explanations for the conflicting findings.