• features

      easy workflow and pro features

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    Easy data import and review

    Event dates are easy to import via a user-oriented graphical interface. Once a csv-file has been imported, event and firm-level data can be reviewed and edited in the data inspector. Our import algorithm detects various data formats automatically and converts them into a consistent format.

    Use price or return data

    When importing asset prices for your events, you are free to use either stock prices or return data. Event Study Metrics offers a free price-return converter, which can be accessed via the Edit-menu.

    The use of the software is not limited to a specific data vendor, which means that you can import data from publicly available sources, such as Google Finance® or Yahoo Finance ® or commercial data vendors, such as Bloomberg® or Datastream®. We offer tailor-made import functions that tie into these commercial databases (pricing upon request).

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    Run short- and long-term event studies

    Event studies can be run with all sorts of normal return models, such as the constant-mean return model, the market model, the CAPM, Three- and Four- Factor models as well as matched portfolios. The model of choice can be selected from a simple pull-down dialogue. Portfolio returns for the Fama-French three-factor model can easily be imported via a free in-app module which directly downloads the data from Kenneth French’s website.

    Customize estimation and event window

    Users can easily specify and change the length of the estimation window and individually set up to eight event windows for which test statistics and abnormal returns are displayed simultaneously.

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    View and export all results

    Once an event study has been computed by Event Study Metrics, (cumulative) abnormal returns and the results of various parametric and non-parametric test statistics (such as t-tests, the Patell Z, and Boehmer et al. test, etc.) are displayed in the results window. You can then inspect these results, make changes to the estimation and event windows and export your results for use in a text processing or graphics application, with just a few mouse clicks (either through an export function or simply copy & paste).

    For a complete description, please download the ESM manual here.