Tomaso Duso (Humboldt University Berlin and WZB, duso@wz-berlin.de) Klaus Gugler (University of Vienna, klaus.gugler@univie.ac.at) Burcin Yurtoglu (University of Vienna, burcin.yurtoglu@univie.ac.at)
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Using a sample of 167 mergers during the period 1990-2002 involving 544 firms either as merging firms or competitors, we contrast a measure of the merger’s profitability based on event studies with one based on accounting data. We find positive and significant correlations between them when using a long window around the announcement date and, for rivals, in case of anticompetitive mergers.
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Paper provided by SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich in its series Discussion Papers with number
163.
Find related papers by JEL classification: L4 - Industrial Organization - - Antitrust Issues and Policies K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
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