Is the event study methodology useful for merger analysis? A comparison of stock market and accounting data

We use a sample of 167 mergers during the period 1990-2002 involving 544 firms either as merging firms or competitors. We contrast a measure of the merger’s profitability based on event studies with one based on accounting data. We find positive and significant correlations between them when using a long window around the announcement date.

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Year of publication:	2006
Authors:	Duso, Tomaso ; Gugler, Klaus ; Yurtoglu, Burçin
Publisher:	Berlin : Wissenschaftszentrum Berlin für Sozialforschung (WZB)
Subject:	Mergers \| Merger Control \| Event Studies \| Ex-post Evaluation

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Series:	WZB Discussion Paper ; SP II 2006-19
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	hdl:10419/51007 [Handle]
Classification:	L4 - Antitrust Policy ; K21 - Antitrust Law ; G34 - Mergers; Acquisitions; Restructuring; Corporate Governance
Source:	EconStor

Persistent link: https://www.econbiz.de/10010278100