This paper evaluates a new nonparametric rank test for abnormal security-price performance in event studies. Simulations with daily security-return data show that the rank test is better specified under the null hypothesis and more powerful under the alternative hypothesis than the parametric t-test. Unlike previous nonparametric tests, this rank test does not require symmetry in cross-sectional excess returns distributions for correct specification.

Charles J. Corrado, John Schatzberg, A Nonparametric Distribution-Free Test for Serial Independence in Stock Returns: A Correction, The Journal of Financial and Quantitative Analysis, Vol. 25, No. 3 (Sep., 1990), pp. 411-415

Charles J. Corrado, Terry L. Zivney, The Specification and Power of the Sign Test in Event Study Hypothesis Tests Using Daily Stock Returns, The Journal of Financial and Quantitative Analysis, Vol. 27, No. 3 (Sep., 1992), pp. 465-478

This article surveys the influence of research journals on finance doctoral education. Influence is measured by citations from syllabi of finance seminars. A sample of 101 distinct syllabi submitted by thirty-three finance doctoral programs yields a list of 1,031 articles cited by at least two schools. These 1,031 articles generate 3,273 citations referencing seventeen finance, economics, and accounting journals, where multiple citations from a single school are counted as a single citation. The most notable findings are the wide variety of seminar content across finance doctoral programs and the dominance of five finance journals in providing this diverse content.

ABSTRACT This article surveys the influence of research journals on finance doctoral education. Influence is measured by citations from syllabi of finance seminars. A sample of 101 distinct syllabi submitted by 33 finance doctoral programs yields a list of 1,031 articles cited by at least two schools. These 1,031 articles generate 3,273 citations referencing 17 finance, economics, and accounting journals, where multiple citations from a single school are counted as a single citation. The most notable findings are the wide variety of seminar content across finance doctoral programs and the dominance of five finance journals in providing this diverse content.

A repricing occurs when the issuing firm resets the strike price of an employee stock option (ESO). ESO repricings occur most frequently following a significant decline in the underlying stock price. Typically, the strike price is reset to the new stock price. We develop a new model for valuing ESOs with a repricing feature. Our valuation model is developed within a utility-maximizing framework that accounts for potentially multiple repricings, employee risk aversion, employee non-option wealth, the non-tradeability of ESOs, and the early exercise feature of ESOs. Simulations suggest that these factors can significantly affect ESO value.