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many industries around the world since the 1980s. Two major criticisms of these studies is that concentration and market … use a novel database that identifies over 20,000 product/geographic antitrust markets affected by over2,000 mergers … scrutinized by the European Commission between 1995 and 2014. We show that concentration, as measured by the market-specific post-merger …
Persistent link: https://www.econbiz.de/10012426540
that would prevent a merger from harming consumers for 1,014 mergers affecting 12,325 antitrust markets scrutinized by the …Worldwide, the overwhelming majority of large horizontal mergers are cleared by antitrust authorities unconditionally …. The presumption seems to be that efficiencies from these mergers are sizeable. We calculate the compensating efficiencies …
Persistent link: https://www.econbiz.de/10012668490
This paper aims to build and empirically evaluate a discrete choice model of merger remedies as a basis for policy … analysis. The database consists of 229 merger cases accepted in Phase I or Phase II of the European merger process between 1990 …
Persistent link: https://www.econbiz.de/10013068862
Sowohl die Diversifikation als auch die Fokussierung von Unternehmensaktivitäten werden häufig mit der Maximierung des Unternehmenswertes begründet. Wir untersuchen die Auswirkungen auf den Aktienkurs für 184 Akquisitionen sowie 139 Desinvestitionen deutscher Konzerne im Zeitraum von...
Persistent link: https://www.econbiz.de/10003768020
Persistent link: https://www.econbiz.de/10015167159
Persistent link: https://www.econbiz.de/10003436060
policy and mergers. The range of techniques is wide, covering merger simulation, financial event studies, traditional …Antitrust policy and mergers provide a steady source of material for economic analysis, both theoretical and empirical … Graham (1971) are all the products of the application of microeconomics to mergers and antitrust policy. Antitrust also …
Persistent link: https://www.econbiz.de/10013069401
Wealth transfer effects between stockholders and bondholders on the announcement date of changes in a firm's credit rating have primarily been examined a) for one type of security; b) on US capital markets; and c) by applying standard event study methods. In contrast to these investigations, we...
Persistent link: https://www.econbiz.de/10012984791
Merger and Acquisition (M&A) activities are not well-anticipated corporate events in the equity market. Do … be merger arbitragers and buy more shares of target firm stocks to speculate on final deal consummation; while banks …
Persistent link: https://www.econbiz.de/10013116852
Prior research has addressed the question of whether certain events cause a transfer of wealth between stockholders and bondholders but does not control for the events' impacts on firms' credit risk. This may explain why many studies fail to identify wealth transfers. By employing announcements...
Persistent link: https://www.econbiz.de/10013093714