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An examination of stock-price effects of EU merger control policy

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  • Brady, Una
  • M. Feinberg, Robert

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  • Brady, Una & M. Feinberg, Robert, 2000. "An examination of stock-price effects of EU merger control policy," International Journal of Industrial Organization, Elsevier, vol. 18(6), pages 885-900, August.
    • Handle: RePEc:eee:indorg:v:18:y:2000:i:6:p:885-900
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    References listed on IDEAS

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    1. Bittlingmayer, George, 1992. "Stock Returns, Real Activity, and the Trust Question," Journal of Finance, American Finance Association, vol. 47(5), pages 1701-1730, December.
    2. Bittlingmayer, George, 1993. "The Stock Market and Early Antitrust Enforcement," Journal of Law and Economics, University of Chicago Press, vol. 36(1), pages 1-32, April.
    3. Eckbo, B. Espen, 1983. "Horizontal mergers, collusion, and stockholder wealth," Journal of Financial Economics, Elsevier, vol. 11(1-4), pages 241-273, April.
    4. Block, Michael Kent & Nold, Frederick Carl, 1981. "The Deterrent Effect of Antitrust Enforcement," Journal of Political Economy, University of Chicago Press, vol. 89(3), pages 429-445, June.
    5. Salinger, Michael, 1992. "Standard Errors in Event Studies," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 27(1), pages 39-53, March.
    6. Eckbo, B Espen & Wier, Peggy, 1985. "Antimerger Policy under the Hart-Scott-Rodino Act: A Reexamination of the Market Power Hypothesis," Journal of Law and Economics, University of Chicago Press, vol. 28(1), pages 119-149, April.
    7. Robert Feinberg & Richard Harper, 1999. "Regime Effects of EU Market Integration Policies on the UK Financial Sector," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 15(4), pages 357-365, December.
    8. Hartigan, James C & Perry, Philip R & Kamma, Sreenivas, 1986. "The Value of Administered Protection: A Capital Market Approach," The Review of Economics and Statistics, MIT Press, vol. 68(4), pages 610-617, November.
    9. Robert M. Feinberg, 1986. "The Effects of European Competition Policy on Pricing and Profit Margins," Kyklos, Wiley Blackwell, vol. 39(2), pages 267-287, May.
    10. Feinberg, Robert M, 1980. "Antitrust Enforcement and Subsequent Price Behavior," The Review of Economics and Statistics, MIT Press, vol. 62(4), pages 609-612, November.
    11. Brown, Stephen J. & Warner, Jerold B., 1985. "Using daily stock returns : The case of event studies," Journal of Financial Economics, Elsevier, vol. 14(1), pages 3-31, March.
    12. Stillman, Robert, 1983. "Examining antitrust policy towards horizontal mergers," Journal of Financial Economics, Elsevier, vol. 11(1-4), pages 225-240, April.
    13. repec:bla:kyklos:v:39:y:1986:i:2:p:267-87 is not listed on IDEAS
    14. Brown, Stephen J. & Warner, Jerold B., 1980. "Measuring security price performance," Journal of Financial Economics, Elsevier, vol. 8(3), pages 205-258, September.
    15. Ellert, James C, 1976. "Mergers, Antitrust Law Enforcement and Stockholder Returns," Journal of Finance, American Finance Association, vol. 31(2), pages 715-732, May.
    16. Robin A. Prager, 1992. "The Effects of Horizontal Mergers on Competition: The Case of the Northern Securities Company," RAND Journal of Economics, The RAND Corporation, vol. 23(1), pages 123-133, Spring.
    17. Eckbo, B Espen, 1992. "Mergers and the Value of Antitrust Deterrence," Journal of Finance, American Finance Association, vol. 47(3), pages 1005-1029, July.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Tomaso Duso & Klaus Gugler & Florian Szücs, 2013. "An Empirical Assessment of the 2004 EU Merger Policy Reform," Economic Journal, Royal Economic Society, vol. 123(11), pages 596-619, November.
    2. Carletti, Elena & Hartmann, Philipp & Ongena, Steven, 2015. "The economic impact of merger control legislation," International Review of Law and Economics, Elsevier, vol. 42(C), pages 88-104.
    3. Patrice Bougette & Stéphane Turolla, 2006. "Merger Remedies at the European Commission: A Multinomial Logit Analysis," Working Papers 06-08, LAMETA, Universtiy of Montpellier, revised Feb 2008.
    4. Duso, Tomaso & Gugler, Klaus & Yurtoglu, Burcin B., 2011. "How effective is European merger control?," European Economic Review, Elsevier, vol. 55(7), pages 980-1006.
    5. Edward Jones & Jonathan Crook, 2009. "Wealth effects to bidding companies from regulatory interventions in the UK," Applied Financial Economics, Taylor & Francis Journals, vol. 19(8), pages 625-634.
    6. Robert Feinberg & Richard Harper, 1999. "Regime Effects of EU Market Integration Policies on the UK Financial Sector," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 15(4), pages 357-365, December.
    7. Moskalev, Sviatoslav A., 2010. "Foreign ownership restrictions and cross-border markets for corporate control," Journal of Multinational Financial Management, Elsevier, vol. 20(1), pages 48-70, February.
    8. Tomaso Duso & Damien J. Neven & Lars-Hendrik Röller, 2007. "The Political Economy of European Merger Control: Evidence using Stock Market Data," Journal of Law and Economics, University of Chicago Press, vol. 50(3), pages 455-489.
    9. Tomaso Duso & Klaus Gugler & Burcin Yurtoglu, 2005. "EU Merger Remedies: A Preliminary Empirical Assessment," CIG Working Papers SP II 2005-16, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
    10. Patrice Bougette & Stéphane Turolla, 2008. "Market structures, political surroundings, and merger remedies: an empirical investigation of the EC’s decisions," European Journal of Law and Economics, Springer, vol. 25(2), pages 125-150, April.
    11. Michael Cichello & Douglas Lamdin, 2006. "Event Studies and the Analysis of Antitrust," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 13(2), pages 229-245.
    12. Gerardo Dubcovsky & Francisco Venegas-Martínez, 2003. "The Kalman Filter In The Event-Study Methodology," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 2(1), pages 81-93, Marzo 200.
    13. Atkas, Nihat & Bodt, Eric de & Roll, Richard, 2001. "Market Response to European Regulation," University of California at Los Angeles, Anderson Graduate School of Management qt0qc9p8gf, Anderson Graduate School of Management, UCLA.
    14. Choe, Chongwoo & Shekhar, Chander, 2010. "Compulsory or voluntary pre-merger notification? Theory and some evidence," International Journal of Industrial Organization, Elsevier, vol. 28(1), pages 10-20, January.
    15. Malcolm Arnold & David Parker, 2009. "Stock market perceptions of the motives for mergers in cases reviewed by the UK competition authorities: an empirical analysis," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 30(4), pages 211-233.
    16. Svetlana B. Avdasheva & Dina V. Tsytsulina, 2014. "The Effects Of Competition Policy: Merger Approval, Entry Barrier Removal, Antitrust Enforcement Compared," HSE Working papers WP BRP 34/FE/2014, National Research University Higher School of Economics.
    17. Günster, Andrea & van Dijk, Mathijs, 2016. "The impact of European antitrust policy: Evidence from the stock market," International Review of Law and Economics, Elsevier, vol. 46(C), pages 20-33.
    18. Luechinger, Simon & Moser, Christoph, 2020. "The European Commission and the revolving door," European Economic Review, Elsevier, vol. 127(C).

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