This study examines whether mergers and acquisitions create value for shareholders in the Athens Stock Exchange, during an extremely volatile period. The results indicate, on average, statistically insignificant investor reaction around merger announcements. However, further analysis suggests...

Theory suggests that equities are a good hedge against inflation. However, most of the empirical evidence suggests that the relationship between stock returns and inflation is negative. One explanation is the negative correlation between inflation and real output growth. In this paper the...