Validation of EST Research Apps
Accuracy in applying methods is an important characteristic of rigorous research. We want you to be accurate, which when deploying event study and news analytics analyses. It is our highest priority to ensure the correctness of our research apps. While the correctness of some apps, such as EDI and CATA, can be easily verified, the abnormal return calculators require benchmarking with alternative analysis tools. We thus benchmarked our abnormal return calculators with alternative event study applications (e.g., Eventus) and STATA. Please find a visualization of our benchmarking beneath.
| Research app | Benchmarking type | Download | Replication documents |
|---|---|---|---|
| a/bARC | Excel | ||
| aARC | Market alternative | ||
| EDI | Manual benchmark | ||
| CATA | Text count and Excel |
Also, we invite you to perform own benchmarking tests of our research apps. Please make use of our benchmarking case and download the respective EST in-/output data sets for re-use in your alternative tool. As for Excel and Stata, you may make use of our Excel Event Study template
and respective Stata do-files. Please share your experiences with us, so we can share them with the broader user community.