Event studies in management research: Theoretical and empirical issues

Abagail Mcwilliams, Donald Siegel

Research output: Contribution to journalReview articlepeer-review

1195 Scopus citations


We examined the use of event studies in management research and found that there was inadequate attention paid to theoretical and research design issues. This lack of attention may lead to false inferences regarding the significance of the events and the validity of the theories being tested. To illustrate the extent of this problem, we attempted to replicate three recent studies. To guide authors and reviewers, we outline procedures for appropriate use of the event study method.

Original languageEnglish (US)
Pages (from-to)626-657
Number of pages32
JournalAcademy of Management Journal
Issue number3
StatePublished - Jun 1997

ASJC Scopus subject areas

  • Business and International Management
  • Business, Management and Accounting(all)
  • Strategy and Management
  • Management of Technology and Innovation


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