Managerial Decisions and Long-Term Stock Price Performance

By Mark L. Mitchell, Erik Stafford. 2000

1,612 citations recorded by the source corpus.

Subfields: Accounting, Finance, Management Science and Operations Research

View Paper: https://www.semanticscholar.org/paper/336a539fd6f35467acc14ab8cd518b2a86112417

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Citations in the corpus

Long-run Performance after Stock Splits: 1927 to 1996 (2003, methodology): “We follow the procedure of Mitchell and Stafford (1998).”
Does investor identity matter? An empirical examination of investments by venture capital funds and hedge funds in PIPEs ☆ (2007, background): “19 For example, Fama (1998), Mitchell and Stafford (2000), and Boehme, Danielsen, and Sorescu (2005).”
Behavioral and Rational Explanations of Stock Price Performance around SEOs: Evidence from a Decomposition of Market-to-Book Ratios (2010, methodology): “…stock price underperformance is primarily concentrated in small firms and argue that the post-issue performance “anomaly” may be caused by asset pricing model deficiencies when it comes to valuing small firms (see Fama (1998), Brav et al. (2000), and Mitchell and Stafford (2000), among others).”
The Long Run Share Price Performance of Malaysian Initial Public Offerings (Ipos) (2006, positive): “(ii) Calendar-Time Approach (a) Fama and French (1993) Three-Factor Model The use of the event time returns may overstate the statistical significance of mean abnormal returns because of the cross-sectional dependence of observations (Mitchell and Stafford, 2000).”
An Examination of Long-Term Abnormal Stock Returns and Operating Performance Following R&D Increases (2004, methodology): “" Independent of the method of estimating expected returns, Fama (1998) and Mitchell and Stafford (2000) argue that event-time returns are an inappropriate metric for computing longterm abnormal returns.”
Using Matched Samples to Test for Differences in Trade Execution Costs (2009, neutral): “…1996; Kahle and Walkling, 1996; Lie, 2001) and in the context of detecting abnormal long-run stock returns (Barber and Lyon, 1997; Lyon, Barber and Tsai, 1999; Mitchell and Stafford, 2000).2 The methodology used in our paper is also similar in spirit to that used in Brown and Warner (1980, 1985).”
Performance and Performance Persistence of ‘Ethical’ Unit Trusts in the UK (2007, methodology): “for event tests by Fama (1998) and Mitchell and Stafford (2000). The alternative, which avoids any look ahead bias, is to run equation (1) for individual funds on a rolling basis for months t=T to t=T+36, then use the stored regression coefficients to calculate the abnormal performance for month T+3”
Post-listing performance and private sector regulation: The experience of London's Alternative Investment Market $ (2013, positive): “…following the approach recommended by Barber and Lyon (1997), we also evaluate the robustness of our results using the approach in Fama (1998) and Mitchell and Stafford (2000), and calculate performance using calendar time portfolios to address the possibility that cross-sectional correlations…”