Changes of Executives and Ownership in a Romanian Small Bank: an Event Study Approach
Changes of Executives and Ownership in a Romanian Small Bank: an Event Study Approach

Summary/Abstract: The aim of this paper is to study the impact of four different events on the evolution of stock pricesof Banca Comercială Carpatica, using event study methodology. The series of events ended with a substantialchange of the bank ownership. In determining the expected returns, we employ two different models: MarketModel and Capital Asset Pricing Model (CAPM). Our results show that in three out of four events there is asignificant impact of the event, both in the pre- and in the post-event days from the event window.

• Details
• Contents