The paper empirically investigates the effects of the Euronext stock exchange merger on listed firms, i.e. the merger of stock exchanges in Amsterdam, Brussels, Lisbon and Paris. Specifically, it examines how exchange consolidation has affected stock liquidity and how the effect varies with firm...

The interdependence of the Nordic and Baltic stock markets is explored in light of increased merger activity of stock exchanges over the sample period, 1996-2006. The results show surprisingly little interdependence between the Nordic and Baltic stock indices. In the short run, the response of...