Money market fund investors' response to fund company mergers
To our best knowledge, this study conducts the first analysis of the money market fund investors' response to the major Spanish fund company mergers from 1994 to 2004. By using an event date methodology considering three significant moments in the merger process: (1) Public announcement (2) Merger (3) Change of denomination of the funds, we obtain that investors' response to mergers is statistically significant when considering small fund companies. On the other hand, we do not detect a significant investors' response to large fund family mergers.
Year of publication: |
2008
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Authors: | Ferruz, Luis ; Ortiz, Cristina ; Vicente, Luis |
Published in: |
Applied Financial Economics Letters. - Taylor and Francis Journals, ISSN 1744-6546. - Vol. 4.2008, 2, p. 109-113
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Publisher: |
Taylor and Francis Journals |
Saved in:
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