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merging and rival firms' stocks to quantify the profitability effects of mergers and merger control decisions. We back up our … assess merger control's effectiveness. By using data gathered from several sources and employing different evaluation … techniques, we analyze the economic effects of the European Commission's (EC) merger control decisions and distinguish between …
Persistent link: https://www.econbiz.de/10010365889
.S. mergers between 1997 and 2017. I document that following a merger announcement, the most likely competitors experience on …There is a growing concern that U.S. merger control may have been too lenient, but empirical evidence remains limited …. Event studies have been used as one method to acquire empirical insights into the competitive effects of mergers. However …
Persistent link: https://www.econbiz.de/10012161053
the period 1990-2002 to assess the effectiveness of European merger control. The basic idea is to relate announcement and … decision abnormal returns. Under a set of four maintained assumptions, merger control might be interpreted to be effective if … rents accruing due to the increased market power observed around the merger announcement are reversed by the antitrust …
Persistent link: https://www.econbiz.de/10008939212
Mergers that substantially lessen competition are challenged by antitrust authorities. Instead of blocking … mergers that were under the European Commission's scrutiny from 1990 to 2002. We use an event study methodology to identify … the potential anticompetitive effects of mergers as well as the remedial provisions on these transactions. Stock market …
Persistent link: https://www.econbiz.de/10010366535
quantify the profitability effects of mergers and merger control decisions. The basic idea is to relate announcement and … concentrations during the period 1990-2002 to assess the effectiveness of European merger control. We analyze the economic effects of … the European Commission's merger control decisions and distinguish between prohibitions, clearances with commitments …
Persistent link: https://www.econbiz.de/10014056772
We study the process of corporate restructuring for a sample of 298 firms during the 1989-98 period that announce that they are considering restructuring alternatives. We find that restructuring is a lengthy process, with the majority of the restructuring period occurring prior to any definitive...
Persistent link: https://www.econbiz.de/10011569361
the period 1990-2002 to assess the effectiveness of European merger control. The basic idea is to relate announcement and … decision abnormal returns. Under a set of four maintained assumptions, merger control might be interpreted to be effective if … rents accruing due to the increased market power observed around the merger announcement are reversed by the antitrust …
Persistent link: https://www.econbiz.de/10010333760
This paper presents some ideas about determinants of merger waves and some evidence on their effect on profitability … and employment. A brief survey of previous merger waves and an analysis of the recent one give support to the hypothesis … that sectoral shocks are at the root of merger waves. Deregulation and globalization are identified as the shocks …
Persistent link: https://www.econbiz.de/10011490438
This paper presents a broad retrospective evaluation of mergers and merger decisions in the digital sector. We first … investigated mergers and whether a more effective merger control regime can be achieved within the current legal framework. … theories of harm in major merger cases in the past few years. We then analyse the characteristics of almost 300 acquisitions …
Persistent link: https://www.econbiz.de/10012137099
fundamental value using a sample of 37 mergers from U.S. industries completed within 1992-1997. For this purpose, the post-merger …This paper examines whether market evaluates merger announcements in a reasonable way based on their effect on … to market efficiency hypothesis. Full sample analysis shows that bidder abnormal stock return at the merger announcement …
Persistent link: https://www.econbiz.de/10013104297