33.7 Sample in Event Studies

Event studies in marketing and finance often use relatively small samples, but they can still yield meaningful results.

Examples of sample sizes in prior studies:

• (Wiles, Morgan, and Rego 2012): 572 acquisition announcements, 308 disposal announcements.

• (Markovitch and Golder 2008): Smallest sample with 71 events.

• (Borah and Tellis 2014): Largest sample with 3,552 events.

Thus, while larger samples improve power, meaningful results can still be obtained from smaller datasets.

---

References

Borah, Abhishek, and Gerard J Tellis. 2014. “Make, Buy, or Ally? Choice of and Payoff from Announcements of Alternate Strategies for Innovations.” Marketing Science 33 (1): 114–33.

Markovitch, Dmitri G, and Peter N Golder. 2008. “Findings—Using Stock Prices to Predict Market Events: Evidence on Sales Takeoff and Long-Term Firm Survival.” Marketing Science 27 (4): 717–29.

Wiles, Michael A, Neil A Morgan, and Lopo L Rego. 2012. “The Effect of Brand Acquisition and Disposal on Stock Returns.” Journal of Marketing 76 (1): 38–58.