This article examines the impact on market quality that the introduction of a closing call auction had at the London Stock Exchange (LSE). Using the market model approach of Cohen et al. (1983a, b) we show that opening and closing market quality improved for those Financial Times and Stock...

Using a sample of 186 referrals between 1965 and 2006, we analyse the abnormal returns experienced by UK bidding companies when a decision is made by UK regulators to refer a merger or acquisition for inquiry and when the decision is published by the regulator. We find evidence of disagreement...