Corporate events and long-run drift
Choose an event type and enter event return, benchmark, observation count and costs to inspect assumed excess return.

The idea · in two minutes

What assumed excess return follows events such as IPOs, spin-offs or downgrades?

Corporate-event studies compare price paths after IPOs, spin-offs, credit downgrades or exchange switches. Event directions differ: IPO underperformance and post-spin-off performance are distinct hypotheses; downgrades are confounded by credit news and distress. Event windows, benchmarks and survivorship treatment matter for long-run estimates.

Choose an event type and enter event return, benchmark, observation count and costs to inspect assumed excess return.

Event types should not be pooled into one directional factor; sample, dates and risk adjustment change results.

• Signal inputChoose an event type and enter event return, benchmark, observation count and costs to inspect assumed excess return.
• Net scenarioEvent types should not be pooled into one directional factor; sample, dates and risk adjustment change results.

Illustrative research examples only. They are not live signals or a recommendation.

The mechanics · payoff and exposure

AR_{event}=R_{\mathrm{event}}-R_{benchmark}-C

AR is assumed event-window return relative to a benchmark; the example does not estimate statistical significance.

Greeks: the directional intuition

事件混合

Measures sensitivity to implied volatility.

基準選擇

Measures sensitivity to implied volatility.

存活者偏誤

Measures sensitivity to implied volatility.

AR_{event}=R_{\mathrm{event}}-R_{benchmark}-C

Practical context · published observations

Corporate events and long-run drift: read the record with its caveats.

The chart uses the published figures or explicitly labelled study inputs below. A historical index or model replay is not the same as an investor’s realised account return.

Event types should not be pooled into one directional factor; sample, dates and risk adjustment change results. Source ↗ · Methodology ↗