Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/55927 
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dc.contributor.authorSturm, Andreasen
dc.contributor.authorDowling, Michael J.en
dc.contributor.authorRöder, Klausen
dc.date.accessioned2012-03-15T14:03:40Z-
dc.date.available2012-03-15T14:03:40Z-
dc.date.issued2007-
dc.identifier.citation|aJournal of Entrepreneurial Finance, JEF|c1551-9570|v12|h2|nThe Academy of Entrepreneurial Finance (AEF)|lMontrose, CA|y2007|p23-53en
dc.identifier.urihttp://hdl.handle.net/10419/55927-
dc.description.abstractWe investigated the stock price behavior of public pharmaceutical and biotechnology companies upon approval of a drug by the Food and Drug Administration (FDA). Using event study methodology, we examine the reaction caused by the approval, separating it from the asset price movements caused by other factors such as market and industry effects. The results are then used to validate the model developed in this article as an alternative to the explanations given by Sharma and Lacey (2004). The results of this study support the Efficient Market Hypothesis, i.e. that the market reacts to the new information quickly and clearly.en
dc.language.isoengen
dc.publisher|aThe Academy of Entrepreneurial Finance (AEF) |cMontrose, CAen
dc.subject.ddc650en
dc.titleFDA drug approvals: Time Is money!-
dc.typeArticleen
dc.identifier.ppn663299608en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
econstor.citation.journaltitleJournal of Entrepreneurial Finance, JEFen
econstor.citation.issn1551-9570en
econstor.citation.volume12en
econstor.citation.issue2en
econstor.citation.publisherThe Academy of Entrepreneurial Finance (AEF)en
econstor.citation.publisherplaceMontrose, CAen
econstor.citation.year2007en
econstor.citation.startpage23en
econstor.citation.endpage53en

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