On using event-study methodology in strategic management research

Philip Bromiley, Michele Govekar, Alfred Marcus

Research output: Contribution to journalArticlepeer-review

40 Scopus citations


Researchers in strategic management have increasingly employed finance methodologies including event studies to assess the impact on corporate wealth of various announced events, including restructuring, changes in leadership, and mergers and acquisitions. This paper presents the assumptions of event-study methodology and discusses its limitations in light of recent findings in finance. Rather than a powerful and general methodology, this paper argues for a limited and extremely careful use of stock-price data.

Original languageEnglish (US)
Pages (from-to)25-42
Number of pages18
Issue number1-3
StatePublished - 1988


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