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Stock Market Event Studies and Competition Commission Inquiries

Author

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  • Lucy Beverley

    (Centre for Competition Policy, University of East Anglia and Competition Commission)

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.

Suggested Citation

  • Lucy Beverley, 2008. "Stock Market Event Studies and Competition Commission Inquiries," Working Paper series, University of East Anglia, Centre for Competition Policy (CCP) 2008-16, Centre for Competition Policy, University of East Anglia, Norwich, UK..
    • Handle: RePEc:uea:ueaccp:2008_16
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    File URL: https://ueaeco.github.io/working-papers/papers/ccp/CCP-08-16.pdf
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    References listed on IDEAS

    as
    1. Luca Aguzzoni & Gregor Langus & Massimo Motta, 2013. "The Effect of EU Antitrust Investigations and Fines on a Firm's Valuation," Journal of Industrial Economics, Wiley Blackwell, vol. 61(2), pages 290-338, June.
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    Cited by:

    1. John Kwoka & Chengyan Gu, 2015. "Predicting Merger Outcomes: The Accuracy of Stock Market Event Studies, Market Structure Characteristics, and Agency Decisions," Journal of Law and Economics, University of Chicago Press, vol. 58(3).
    2. Geoffrey Steeves & Newton da Costa & Caroline Elliott, 2017. "Shareholder response to mass shootings in the United States firearms industry," Cogent Economics & Finance, Taylor & Francis Journals, vol. 5(1), pages 1345600-134, January.

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    More about this item

    Keywords

    event studies; shares; share prices; Competition Commission; stock market;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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