An analysis of market value as a tool for understanding the strategic value of firms. Profitability is discounted due to difficulties in obtaining sample size. The analysis hinges on finding abnormal returns that coincide with significant corporate events.
time-event methodology, strategic interactions, efficient-markets hypothesis, Eastman Kodak, competition, cumulative abnormal returns (CAR)
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Bettis, Richard A. and Weeks, David, "Measuring the Financial Impact of Strategic Interaction: The Case of Instant Photography" (1985). Working Papers. 123.