Antoniou, Antonios; Arbour, Philippe; Zhao, Huainan - In: Journal of Financial Transformation 32 (2011), pp. 159-168
In this paper we review the methods of measuring the economic gains of mergers and acquisitions (M&A). We show that the widely employed event study methodology, whether for short or long event windows, has failed to provide meaningful insight and usable lessons regarding the central question of...