Chung, Chune Young; Hasan, Iftekhar; Hwang, Ji Hoon; … - 2023
This study examines how antitrust law adoptions affect horizontal merger and acquisition (M&A) outcomes. Using the … staggered introduction of competition laws in 20 countries, we find antitrust regulation decreases acquirers’ five …-day cumulative abnormal returns surrounding horizontal merger announcements. A decrease in deal value, target book assets, and …