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Financial Markets and the AT&T Antitrust Settlement

Author

Listed:
  • Rachel Baker

    (Reed Consulting Group)

  • Bruce Yandle

    (Clemson University)

Abstract

The 1984 Justice Department settlement with AT&T marked one of the largest antitrust action in the nation's history. At the end of the process major changes were made in the original settlement proposal. Investors in affected industries behaved as if they were assessing these changes. Portfolio values of AT&T, its direct competitors, and firms in fields AT&T would enter were affected. As the settlement was made final, financial markets evidence indicates changes in abnormal returns for affected firms.

Suggested Citation

  • Rachel Baker & Bruce Yandle, 1994. "Financial Markets and the AT&T Antitrust Settlement," Eastern Economic Journal, Eastern Economic Association, vol. 20(4), pages 429-440, Fall.
    • Handle: RePEc:eej:eeconj:v:20:y:1994:i:4:p:429-440
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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume20/V20N4P429_440.pdf
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    More about this item

    Keywords

    Financial Markets;

    JEL classification:

    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • L96 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Telecommunications

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