Welcome to EventStudyTools.com,
This project seeks to facilitate the broad dissemination and use of event study methods and tools that help capture and analyze the economic impact of discrete events (flash intro 'purpose' and 'approach'). To this end, the website holds server-side research apps that empower scientific enquiry and evidence-based decision making in various business contexts. All apps work in batch-mode and are tailored towards the analysis of large datasets, including unstructured textual data from the Internet (e.g., corporate press releases).
With the event study methodology as its core theme, the website assumes a capital market perspective and allows users to explicate stock market responses to various events of interest. Besides of featuring this methodology and simplifying its application by means of abnormal return calculators, the website offers several complementary tools and micro-services. The website's tools particularly fuel two broad trends in Strategy and Finance research, along with important practical applications:
- The provided tools allow users to capture and analyze firm competitive behavior over time. With such a capacity, they have great use-cases in both theory and practice. They can be used to innovatively approach research questions in competitive dynamics research and other areas of strategic management research. Practically, these applications are associated with competitive intelligence work.
- Since every event study also implicitly tests the efficient market hypothesis, expanding the focus from distinct event types to more contextual information bears the potential for new insights on investor behavior, and thus on Finance theory. Behavioral Finance scholars have recently established the field of 'news analytics' which scrutinizes how neglected characteristics of news influence the news' asset price impact. Novel insights along these lines not only promise a deeper understanding of capital markets, but also convey the very tangible prospect of alpha returns.
Since Feb'13, EventStudyTools has delivered a total of 10933 analyses. The following awards/award nominations were achieved by research using the research apps: 2012 William H. Newman Award Finalist (AOM), 2012 Best Conference PhD Paper Prize (SMS), 2012 Best Conference Paper Price For Practical Applications Finalist (SMS), Nomination for 2012 Best Overall Conference Paper Prize (SMS), and 2010 Best Paper Journal of Strategy and Management/Outstanding Paper Award at the Literati Network Awards for Excellence (2011). Further details on the respective studies and other published work that build on EventStudyTools' research apps are listed in the website's research tracker.
The research apps are either free of charge (EDI, bARC, aARC [small analyses]), or passkey-restricted (CATA, aARC [large analyses]) - passkeys can be purchased here. Affiliates of several institutions (e.g., HSG, Leuphana, Uni Mannheim, or Thammasat University) waive the passkey check by entering their institutional e-mail address for result delivery.
For updates, like our facebook page. Please visit our corporate sponsor to keep the ARCs free.