We explore the question of whether wireless industry mergers invariably reduce sector employment and find the answer is "no." We reach this conclusion by looking at four years of data on employment trends surrounding the largest wireless merger to date - the AT&T-Cingular merger in 2004, and two...

In this paper, we offer a hybrid approach to merger simulation in which we allow rather extensive pre-testing to suggest the ‘correct', or most desirable, form for the underlying demand curves. Our application is the merger between the large mobile telephone companies Cingular and AT&T...

This law review examines in detail an emerging gap for evaluating anticompetitive concerns of utility consolidations between the Federal Energy Regulatory Commission under the Federal Power Act and the Securities and Exchange Commission under the Public Utilities Holding Company Act. First, this...

The U.S. electricity industry - once the most stoic of industries - is currently is a state of great turmoil and flux. The root of this turmoil stems directly from Federal Energy Regulatory Commission's ("FERC") ostensible efforts to bring "competition" and "de-regulation" to the electric...

This POLICY BULLETIN examines the potential impact of the proposed Cingular/AT&T Wireless merger on both (a) the performance in the national wireless industry; and (b) the potential for wireless "intermodal" competition with fixed line service. After performing both an event study and merger...

I conduct an event study on the proposed $26.5 billion merger between Sprint and T-Mobile. Positive and statistically significant stock price effects are observed for the merging firms in response to credible rumors of the transaction, but large and negative returns are observed after the...

Financial event studies using daily stock returns are frequently employed in the analysis of mergers to estimate the sign and magnitude of stock movements to particular merger announcements. A common method of conducting the event study is least squares regression with dummy variables. Daily...