concentrations during the period 1990-2002 to assess the effectiveness of European merger control. We analyze the economic effects of … the European Commission's merger control decisions and distinguish between prohibitions, clearances with commitments … quantify the profitability effects of mergers and merger control decisions. The basic idea is to relate announcement and …

This study analyzed activism that leads to a merger or acquisition (M&A) of a firm to see its benefits for the …

This paper measures the capital markets’ reaction to merger announcements within the announcement month using the … significant. These results indicate that the gains around the merger announcements reflect synergetic gains, not the wealth …

This article revisits the protectionism hypothesis related to the European merger regulation (EMR). In the 1990s, EMR … EC in the 1990s. With a sample of 474 merger proposals submitted to the EC during 1990–2007, we show that the EC …

Using a broad sample of merger announcements, I find unusual option volume right before these announcements. The … abnormal option volume provides new information about the pre-merger stock price runup beyond what is incorporated in the stock … accumulates before merger announcements and leads stock pricing. Moreover, the simultaneity between the volume effect and pricing …

The recent merger between US Airways and American Airlines was approved by federal and state antitrust authorities … anticompetitive effects from this merger. The economics literature offers many reasons why such stock-market event studies should not … unrelated to competitive harms, such as when a merger changes expectations that one or more rivals will be “in play” (i.e., a …

bidder firms, around the announcement dates of relevant merger and acquisition (M&A) transactions in the Eurozone during the …

We find that the acquirer’s (1) abnormal returns at merger and acquisition (M&A) announcements and (2) long …