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Stock Market Event Studies and Competition Commission Inquiries

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Author Info
Lucy Beverley () (Competition Commission and Centre for Competition Policy, University of East Anglia)
Abstract

Event study analysis is a branch of econometrics which attempts to measure the effects of economic events on the value of firms by examining stock market data. Providing that share prices reflect the underlying economic values of assets, changes in equity values will properly capture expected changes in the economic profitability of the firm. This paper considers the effect on stock prices of announcements relevant to Competition Commission references, using established event study methodology.

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Publisher Info
Paper provided by Centre for Competition Policy, University of East Anglia in its series Working Papers with number 08-16.

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Length: 45 pages
Date of creation: Mar 2008
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Handle: RePEc:ccp:wpaper:wp08-16

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Related research
Keywords: event studies; shares; share prices; Competition Commission; stock market;

Find related papers by JEL classification:
G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Langus, Gregor & Motta, Massimo, 2007. "The Effect of EU Antitrust Investigations and Fines on a Firm’s Valuation," CEPR Discussion Papers 6176, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  2. Eckbo, B. Espen, 1983. "Horizontal mergers, collusion, and stockholder wealth," Journal of Financial Economics, Elsevier, vol. 11(1-4), pages 241-273, April. [Downloadable!] (restricted)
  3. Salinger, Michael, 1992. "Standard Errors in Event Studies," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 27(01), pages 39-53, March. [Downloadable!]
  4. Fama, Eugene F, et al, 1969. "The Adjustment of Stock Prices to New Information," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 10(1), pages 1-21, February. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Bruce Lyons, 2008. "An Economic Assessment of EC Merger Control: 1957–2007," Working Papers 08-17, Centre for Competition Policy, University of East Anglia. [Downloadable!]
  2. Yingqi Wei & Caroline Elliott, 2009. "The Impact of Regulatory Intervention in the UK Store Card Industry," Working Papers 005954, Lancaster University Management School, Economics Department. [Downloadable!]
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