the period 1990-2002 to assess the effectiveness of European merger control. The basic idea is to relate announcement and … decision abnormal returns. Under a set of four maintained assumptions, merger control might be interpreted to be effective if … rents accruing due to the increased market power observed around the merger announcement are reversed by the antitrust …

We find that bidders are more likely to hold conference calls at merger announcements when the mergers are financed … associated with more favorable market reactions to merger announcements. A content analysis of merger-related information … conference calls are positively associated with pre-merger announcement abnormal accruals. Overall, the results suggest that …

In this paper, we use call option prices to identify synergies and news from merger and acquisition (M&A) transaction …

value for the acquirer. However, announcement returns combine information about value creation because of the merger and a … the merger. We find that despite their negative average announcement returns, acquisitions of public targets typically do …

In the 1990s, European merger regulation (EMR) was biased against foreign acquirers, especially if the deal harmed … 2004. With a sample of 474 merger proposals submitted to the EC during 1990–2007, we show that the EC's protectionism from …

ownership structure affects a firm's intermediate merger process …

This paper examines whether market evaluates merger announcements in a reasonable way based on their effect on … fundamental value using a sample of 37 mergers from U.S. industries completed within 1992-1997. For this purpose, the post-merger … to market efficiency hypothesis. Full sample analysis shows that bidder abnormal stock return at the merger announcement …

This paper investigates the effects of analyst recommendations issued after a merger announcement on deal completion …. Results from instrumental variables tests support causality running from recommendations to merger outcomes. Additional tests … suggest that these relations are driven by target shareholders reassessing the merger offer in response to movements in …