| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16952 |
| 来源ID | Working Paper 16952 |
| Coups, Corporations, and Classified Information | |
| Arindrajit Dube; Ethan Kaplan; Suresh Naidu | |
| 发表日期 | 2011-04-14 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | We estimate the impact of coups and top-secret coup authorizations on asset prices of partially nationalized multinational companies that stood to benefit from US-backed coups. Stock returns of highly exposed firms reacted to coup authorizations classified as top-secret. The average cumulative abnormal return to a coup authorization was 9% over 4 days for a fully nationalized company, rising to more than 13% over sixteen days. Pre-coup authorizations accounted for a larger share of stock price increases than the actual coup events themselves.There is no effect in the case of the widely publicized, poorly executed Cuban operations, consistent with abnormal returns to coup authorizations reflecting credible private information. We also introduce two new intuitive and easy to implement nonparametric tests that do not rely on asymptotic justifications. |
| 主题 | International Economics ; Globalization and International Relations ; Financial Economics ; Financial Markets ; History ; Macroeconomic History |
| URL | https://www.nber.org/papers/w16952 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574627 |
| 推荐引用方式 GB/T 7714 | Arindrajit Dube,Ethan Kaplan,Suresh Naidu. Coups, Corporations, and Classified Information. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16952.pdf（654KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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