This paper analyzes how announce changes in the corporate control (takeover) of Endesa, Hidrocantábrico and Scottish Power affect their stock market returns and the impact that these events have on the stock market returns of competitors of the target firm. Using an “event study”...

The deregulation process in the EU electricity sector triggered strategic decisions that led to industry restructuring. This paper presents preliminary evidence of the impact of this process on investors, using event studies and estimation techniques such as least squares and GARCH. Our findings...