Alemany, Margalida; Crespi-Cladera, Rafel - In: Vierteljahrshefte zur Wirtschaftsforschung 70 (2001) 2, pp. 214-224
the cumulative abnormal return for a [-8, +4] window is negative and significant. These inconclusive results reinforce the … higher takeover prices, which is expected to increase shareholders' wealth. These two hypotheses have been widely tested in … the existence of a significant wealth effect, measured by an abnormal return of 0.5%, at the date of adoption, although …