The intra-industry effects of the acquisition of Dow Jones
AbstractWe examine the intra-industry effects associated with the acquisition of Dow Jones and Company by News Corporation. We test the significance of the market's reaction to news releases throughout 2007 using event study methods. We find evidence of a direct relation between the stock price reaction of Dow Jones and the stock price reaction of its competitors, indicating that the market viewed the acquisition as beneficial to Dow Jones's industry rivals.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 18 (2011)
Issue (Month): 6 ()
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