variances, and firm-specific event periods. Their method, which nests traditional methods, also permits systematic risk to … systematic risk of the acquiring firms, significant ARCH effects, and an event period that ends before the date of the … cannot account for information leakage may be biased, and (2) changes in systematic risk can occur in the absence of abnormal …

variances, and firm-specific event periods. Their method, which nests traditional methods, also permits systematic risk to … systematic risk of the acquiring firms, significant ARCH effects, and an event period that ends before the date of the … cannot account for information leakage may be biased, and (2) changes in systematic risk can occur in the absence of abnormal …

-related changes in prices were found to be very small. …

restricted by federal and state laws from expanding across state lines. We examine whether bank merger prices were higher or … performing targets, as measured by return on assets, are offered higher bid premiums. We also find that lower risk targets, as … well as those that may provide some diversification benefits, are offered higher prices.> We find that changes in the …