Long-Term Capital Market Consequences of Financial Restatements

Key Findings Computing the cumulative average abnormal return (CAAR) to document market reaction after a financial restatement, we found no significant abnormal returns in either the first 30-day window following the date of restated financials or after a 90-day window for … Continue reading

GT Advanced Technologies: Red Flags Exhibited Prior to Bankruptcy

On October 6th, GT Advanced Technologies (GTAT) and its subsidiaries filed for bankruptcy protection under Chapter 11. Speculation about the company’s negative prospects were apparent after Apple decided not to use GT Advanced as a supplier for the behemoth’s latest iPhone. … Continue reading