Question
NM Inc. just won a lawsuit yesterday that awards it $1 million immediately. However, NM Inc. had an abnormal return of -1.6% yesterday. This suggests
NM Inc. just won a lawsuit yesterday that awards it $1 million immediately. However, NM Inc. had an abnormal return of -1.6% yesterday. This suggests that
A. the market is not efficient.
B. investors expected the award to be less than $1 million.
C. investors expected the award to be greater than $1 million.
D. NW' stock will continue to fall in value tomorrow.
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The Oxford Handbook Of The Sociology Of Finance
Authors: Karin Knorr Cetina, Alex Preda
1st Edition
0198708777, 978-0198708773
