CARLETTI, Elena; HARTMANN, Philipp; ONGENA, Steven - Department of Economics, European University Institute - 2012
We construct a unique dataset of legislative reforms in merger control legislation that occurred in nineteen industrial … hypothesis that merger control should challenge anticompetitive mergers and thus limit future monopolistic profits, we find that … the strengthening of merger control decreases the stock prices of non-financial firms. In contrast, we find that bank …