Lübbers, Thorsten - Max-Planck-Institut zur Erforschung von … - 2009
precisely, we consider the Rhenish-Westphalian Coal Syndicate, a coal cartel that operated in Imperial Germany in the late 19th … event study methodology to asses the reaction of the stock market to the foundation of the cartel and two major revisions of … data in a dynamic panel data framework. Overall, our results suggest that the investigated cartel had no significant effect …