In recent years, demutualized stock exchanges have been increasingly engaging in M&A and alliance activities. To examine the effect of these growth strategies on exchange shareholders’ value creation, we focus on 14 public stock exchanges and investigate their short-run share price responses...

This evaluation examined the support the European Commission’s DG for Development and International Cooperation (DEVCO) provided to Research and Innovation (R&I) in partner countries during the last EU budget period (2007-2013).