RT Journal Article SR Electronic T1 Measuring Private Equity Stock Reactions JF The Journal of Private Equity FD Institutional Investor Journals SP 73 OP 79 DO 10.3905/jpe.2006.635432 VO 9 IS 3 A1 Eurico J. Ferreira A1 LeRoy D. Brooks A1 Eric C Girard YR 2006 UL https://pm-research.com/content/9/3/73.abstract AB This article presents preliminary evidence on the ability of an adjusted AR to enhance the materiality and significance levels in AR-based event studies. A case example of differences between the standard AR measure used in most event studies and the adjusted AR is provided. In tests of 240 equity private placements of publicly held companies between 1983 and 1996, the adjusted AR measure dominates the standard AR measure across various sample sizes. As the sample size decreases, the adjusted measure retains the ability to detect material and significant price increases while the standard AR measure's ability declines.TOPICS: Private equity, statistical methods, portfolio construction, performance measurement