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DIVULGACIÓN VOLUNTARIA ESTRATÉGICA ANTE UN NUEVO EVENTO LABORAL: EVIDENCIA EMPÍRICA PARA EL MERCADO CONTINUO ESPAÑOL

Sabater, Ana María; Laffarga, Joaquina - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2006

The aim of this paper is to analyse the disclosure activity in press around a labor event, for the companies quoted on Spanish continuous market and the reaction of stock prices of those firms affected by such events. The previous period to the signature of a firm level collective agreement...

Persistent link: https://www.econbiz.de/10005812829

PARAMETRIC AND NONPARAMETRIC APPROACHES TO EVENT STUDIES: AN APPLICATION TO A HOTEL'S MARKET VALUE

Nicolau, Juan Luis - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2001

The main objective of this paper is twofold: on the one hand, to analyse the impact that the announcement of the opening of a new hotel has on the performance of its chain by carrying out an event study, and on the other hand, to compare the results of two different approaches to this method: a...

Persistent link: https://www.econbiz.de/10005731245

COMPORTAMIENTO DE LOS PRECIOS Y VOLÚMENES DE NEGOCIACIÓN ANTE ANUNCIOS DE BENEFICIOS ANUALES

Sanabria, Sonia - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2004

The aim of this study is analyzed empirically the effect that annual earnings announcementshave in market value and the trading volume of shares on the Spanish Stock Market for the periodbetween 1999 and 2001. With the finality to accomplish a more complete analysis, is examined theactual...

Persistent link: https://www.econbiz.de/10005515810

ALISAMIENTO DE BENEFICIOS vs. RENTABILIDAD BURSÁTIL: EVIDENCIA EMPÍRICA

Poveda, Francisco; Iñiguez, Raúl - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2001

This study investigates the market valuation of income smoothing by a long run analysis of the relation income smoothing vs. return and risk in the Spanish stock market. Using several methodological approaches to estimate and test abnormal returns, the results suggest some pattern of behaviour...

Persistent link: https://www.econbiz.de/10005515876

ESTUDIO DEL EFECTO INFORMATIVO DEL ANUNCIO DE BENEFICIOS TRIMESTRALES

Herrero, Begoña; Ibáñez, Ana María; García, … - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2005

In this research we investigate whether quarterly earnings announcements are informative using awide sample of firms listed in the Spanish Stock Market (SIBE). We study the period comprised between thethird quarterly of 2002 and the fourth quarterly of 2003. We analyse whether abnormal returns...

Persistent link: https://www.econbiz.de/10005731117

EFECTO SPILLOVER ANTE UN EVENTO LABORAL: UN ANÁLISIS EMPÍRICO PARA EL MERCADO CONTINUO ESPAÑOL

Sabater, Ana María; Laffarga, Joaquina - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2005

The aim of this paper is to analyse the reaction of the stock prices of competing companies to the signature of a firm-level collective agreement. Considering that this type of agreement slants to the rise the wages of these firms with respect to those of the sector, we have found empirical...

Persistent link: https://www.econbiz.de/10005731152

University merging process

Hidalgo, Marisa Hidalgo; Blanes, Guadalupe Valera - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2013

There is a recent tendency toward encouraging universities to merge. This policy is based on the idea that mergers … may reduce competition for both research funds and professors. This paper analyzes whether or not mergers among … potential merger institutions in terms of their reputation the greater the amount of funds needed to make mergers profitable. …

Persistent link: https://www.econbiz.de/10010860702

- DELEGATION AND MERGERS IN OLIGOPOLY

Cuñat, Javier M. López; González-Maestre, Miguel - Instituto Valenciano de Investigaciones Económicas (IVIE) - 1999

In this paper we analyze the effect strategic delegation on the profitability of mergers in the context of a Cournot …

Persistent link: https://www.econbiz.de/10005212556

- MERGERS BETWEEN ASYMMETRIC FIRMS: PROFITABILITY AND WELFARE

Faulí-Oller, Ramón - Instituto Valenciano de Investigaciones Económicas (IVIE) - 1998

Using only information on the degree of concavity of demand and observable structural variables as the market share of firms, a necessary and sufficient condition for a merger to increase welfare is derived. On the profitability side, we obtain that when market size decreases merger...

Persistent link: https://www.econbiz.de/10005212610

Mergers for market power in a cournot setting and merger guidelines

Faulí-Oller, Ramón - Instituto Valenciano de Investigaciones Económicas (IVIE) - 1996

The US Merger Guidelines consider that the anticompetitive effect of a horizontal merger is increasing in the initial market concentration and decreasing in the elasticity of demand. These ideas are studied in a setting where identical firms compete à la Cournot and marginal cost is constant....

Persistent link: https://www.econbiz.de/10008542860