Graduation Year


Date of Submission


Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts



Reader 1

Darren Filson

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Rights Information

© 2016 Eduardo A. Ramirez


This study expands on previous research regarding the effect of CEO performance on firm value. An event study is conducted using a market model of CEO successions and daily returns in order to generate predicted returns. Two separate regressions are run using a 3 day and 5 day event window respectively. The results of the regressions are using to compare abnormal returns between industries and market capitalization. While some daily abnormal returns are statistically significant, cross-sectional analysis of CAR are for the most part not significant. Further study is needed in order to come to a stronger conclusion.

This thesis is restricted to the Claremont Colleges current faculty, students, and staff.