An Empirical Analysis of CFIUS: Examining Foreign Investment Regulation in the United States
نویسندگان
چکیده
III. EVENT STUDIES ......................................................................................................................... 138 A. Methodology .............................................................................................................. 138 B. Identifying the Announcement Day (Event Window) ................................................ 140 C. Measuring Returns ..................................................................................................... 142 1. Identifying Firms ........................................................................................ 142 2. Stock Data .................................................................................................. 142 D. Calculating Expected Returns .................................................................................... 142 E. Computing Abnormal Returns ................................................................................... 143 F. Results ....................................................................................................................... 143 G. Analysis ..................................................................................................................... 147 1. Wealth Transfer .......................................................................................... 147 2. Efficiency Loss .......................................................................................... 149 3. Long-Run Deterrence ................................................................................. 149 H. Discussion ................................................................................................................. 150
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