Historically, financial markets have witnessed several consolidation trends. The year 1998, however, surpassed them all in volume and size of individual deals. This paper utilizes the event study approach to analyse the mega-mergers that took place in the banking industry during 1998, namely...

We examine the relation among average returns, market beta, firm size, and book-to-market value for Canadian stocks during 1975-92. We document a negative relation between average return and the market capitalization of firms, but find no relation between average return and market beta. While...

Using a sample of Arab, U.S., and emerging stock markets from 1997 to 2002, this study is designed to determine if international diversification is still possible despite growing globalization and the consequent integration among various stock markets. Our results show that within Arab markets,...