Handbook of Corporate Finance Empirical Corporate Finance Volume 1

Ch. 1: Econometrics of Event Studies 7

Ta b l e 1
Event studies, by year and journal. For each journal, all papers that contain an event study are included. Survey
and methodological papers are excluded

Year Journal of
Business

Journal of

Finance

Journal of

Financial

Economics

Journal of

Financial and

Quant. Analysis

Review of

Financial

Studies

Grand total

1974 2 2 1 5
1975 2 2 1 5
1976 5 1 1 7
1977 5 5 1 11
1978 1 5 4 1 11
1979 7 2 9
1980 3 4 2 2 11
1981 1 3 4 2 10
1982 1 6 2 1 10
1983 2 14 18 4 38
1984 5 5 1 11
1985 2 4 7 2 15
1986 2 7 14 4 27
1987 7 18 1 26
1988 1 4 7 5 1 18
1989 11 11 1 1 24
1990 5 17 7 6 2 37
1991 5 17 2 4 1 29
1992 4 13 9 4 1 31
1993 5 7 5 5 3 25
1994 1 10 10 5 26
1995 1 8 14 11 2 36
1996 1 7 10 5 3 26
1997 3 8 12 3 26
1998 1 14 11 3 29
1999 1 7 12 1 4 25
2000 2 15 13 5 2 37

Totals 44 212 207 82 20 565

No survey of these 565 event study papers is attempted here. For the interested
reader, the following are some examples of event study surveys.MacKinlay (1997)
andCampbell, Lo, and MacKinlay (1997)document the origins and breadth of event
studies. The relation of event studies to tests of market efficiency receives considerable
attention inFama (1991), and in recent summaries of long-horizon tests inKothari and
Warner (1997)andFama (1998). Smith (1986)presents reviews of event studies of fi-
nancing decisions.Jensen and Ruback (1983), Jensen and Warner (1988), andJarrell,
Brickley, and Netter (1988)survey corporate control events. Recently,Kothari (2001)
reviews event studies in the accounting literature.