التفاصيل البيبلوغرافية
| العنوان: |
Impact of Regulations on Firm Value: Evidence from the 2016 U.S. Presidential Election. |
| المؤلفون: |
Kundu, Santanu |
| المصدر: |
Journal of Financial & Quantitative Analysis; Jun2024, Vol. 59 Issue 4, p1659-1691, 33p |
| مصطلحات موضوعية: |
BUSINESS enterprises, RATE of return on stocks, UNITED States presidential election, 2016, REGULATION of financial institutions |
| مستخلص: |
Using the 2016 U.S. presidential election result as a shock to the expectations about the future regulatory environment, I find that most regulated firms earned approximately 4% higher cumulative abnormal stock returns than least regulated firms during the first 10 trading days after the election. Exploring economic mechanisms, I find evidence consistent with the explanation that more regulations disproportionately harm high-growth firms and allow incumbent firms to extract rents through lower competition and political favoritism. Stock returns are also followed by a shift in firm fundamentals over 3 years after 2016, consistent with the economic mechanisms. [ABSTRACT FROM AUTHOR] |
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| قاعدة البيانات: |
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