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

Tomaso Duso; Klaus Gugler; Burcin Yurtoglu

Using 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 and, for rivals, in case of anticompetitive mergers.

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Year of publication:	2006
Authors:	Duso, Tomaso ; Gugler, Klaus ; Yurtoglu, B. Burcin
Publisher:	Mannheim [u.a.] : Sonderforschungsbereich/Transregio 15
Subject:	Mergers \| Merger Control \| Event Studies \| Ex-post Evaluation \| Fusion \| Merger \| Ereignisstudie \| Event study \| Fusionskontrolle \| Merger control \| Schätzung \| Estimation \| Welt \| World \| Übernahme \| Takeover \| Börsenkurs \| Share price \| Ankündigungseffekt \| Announcement effect

Extent:	Online-Ressource (5 S.)
Series:	Discussion papers / Governance and the Efficiency of Economic Systems. - Bonn : [Verlag nicht ermittelbar], ZDB-ID 2499250-1. - Vol. 163
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
Other identifiers:	hdl:10419/94154 [Handle]
Classification:	L4 - Antitrust Policy ; K21 - Antitrust Law ; G34 - Mergers; Acquisitions; Restructuring; Corporate Governance
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10010365892