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On the relationship between aggregate merger activity and the stock market: some further empirical evidence

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  • Clarke, Roger
  • Ioannidis, Christos

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  • Clarke, Roger & Ioannidis, Christos, 1996. "On the relationship between aggregate merger activity and the stock market: some further empirical evidence," Economics Letters, Elsevier, vol. 53(3), pages 349-356, December.
    • Handle: RePEc:eee:ecolet:v:53:y:1996:i:3:p:349-356
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    References listed on IDEAS

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    1. Guerard, John Jr., 1989. "Mergers, stock prices, and industrial production : Further evidence," Economics Letters, Elsevier, vol. 30(2), pages 161-164, August.
    2. Geroski, P. A., 1984. "On the relationship between aggregate merger activity and the stock market," European Economic Review, Elsevier, vol. 25(2), pages 223-233, July.
    3. Melicher, Ronald W & Ledolter, Johannes & D'Antonio, Louis J, 1983. "A Time Series Analysis of Aggregate Merger Activity," The Review of Economics and Statistics, MIT Press, vol. 65(3), pages 423-430, August.
    4. Granger, C W J, 1969. "Investigating Causal Relations by Econometric Models and Cross-Spectral Methods," Econometrica, Econometric Society, vol. 37(3), pages 424-438, July.
    5. Sims, Christopher A, 1972. "Money, Income, and Causality," American Economic Review, American Economic Association, vol. 62(4), pages 540-552, September.
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    Cited by:

    1. Gangopadhyay, Partha, 2014. "Dynamics of mergers, bifurcation and chaos: A new framework," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 403(C), pages 293-307.
    2. Bhattacharjee, A. & Higson, C. & Holly, S. & Kattuman, P., 2004. "Business Failure in UK and US Quoted Firms: Impact of Macroeconomic Instability and the Role of Legal Institutions," Cambridge Working Papers in Economics 0420, Faculty of Economics, University of Cambridge.
    3. ARIKAWA Yasuhiro & MIYAJIMA Hideaki, 2006. "Economic Analysis of M&As: Why has the number of M&As increased? (Japanese)," Discussion Papers (Japanese) 06034, Research Institute of Economy, Trade and Industry (RIETI).
    4. Benjamin Auer & Frank Schuhmacher, 2013. "RETRACTED ARTICLE: Investor sentiment, stock market valuation and merger activity," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 60(2), pages 245-245, June.
    5. Gugler, Klaus & Mueller, Dennis C. & Weichselbaumer, Michael, 2012. "The determinants of merger waves: An international perspective," International Journal of Industrial Organization, Elsevier, vol. 30(1), pages 1-15.
    6. Bogdan Cernat-Gruici, 2009. "Some Empirical Evidence on the Relationship Between Acquisitions, Disposals and the Stock Market," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 12(33), pages 3-22, (3).
    7. Fuller, Caleb S. & Pusateri, Nicholas R., 2018. "A holistic approach to merger models with an emphasis on heterogeneity," The Quarterly Review of Economics and Finance, Elsevier, vol. 69(C), pages 260-273.
    8. Cernat-Gruici Bogdan & Constantin Laura Gabriela & Iamandi Irina Eugenia, 2010. "Empirical Evidence On The Relationship Between Mergers & Acquisitions And The Romanian Stock Market," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 700-704, December.
    9. Hsueh, Shun-Jen & Tsao, Yao Chun & Tu, Chien-Heng & Chiu, Yung-Ho & Liu, Shu-Bing, 2014. "Can M&A activities act as a predictor of the performance of economic growth or stock prices?," Economic Modelling, Elsevier, vol. 42(C), pages 430-438.
    10. A. Bhattacharjee & C. Higson & S. Holly & P. Kattuman, 2009. "Macroeconomic Instability and Business Exit: Determinants of Failures and Acquisitions of UK Firms," Economica, London School of Economics and Political Science, vol. 76(301), pages 108-131, February.
    11. Florian Szücs, 2013. "Clustering Properties of Merger Waves: Space, Time or Industry?," Discussion Papers of DIW Berlin 1322, DIW Berlin, German Institute for Economic Research.
    12. Cook, Steven, 2007. "On the relationship between mergers and economic activity: Evidence from an optimised hybrid method," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 379(2), pages 628-634.
    13. Arnab Bhattacharjee & Chris Higson & Sean Holly & Paul Kattuman, 2007. "Macroeconomic Conditions and Business Exit: Determinants of Failures and Acquisitions of UK Firms," CDMA Working Paper Series 200713, Centre for Dynamic Macroeconomic Analysis.

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