This study analyzes the effectof changes in corporate controlon the way shareholdersbenefit from the announcements of selling and buying airlines, thus contributing to the literature on mergers and acquisitions (M&As) in emerging markets. Using a methodologyof event study, including GARCH and...

Resumen:Este artículo analiza el efecto de los anuncios de cambios en el control corporativo (Ofertas Públicas de Adquisición - OPA) sobre el precio de cotización en Bolsa de Endesa, Hidrocantábrico y Scottish Power y el impacto que estos acontecimientos tienen sobre los rendimientos de los...

The deregulation process in the EU electricity sector triggered strategic decisions that led to industry restructuring. This paper presents preliminary evidence of the impact of this process on investors, using event studies and estimation techniques such as least squares and GARCH. Our findings...