Some Empirical Evidence on the Relationship Between Acquisitions, Disposals and the Stock Market
Based on empirical studies and theoretical evidence the paper investigates the relationship between inward and outward acquisitions and disposals in the UK and the UK stock market described by the FTSE all-share index. By using the Granger causality test for both the numbers and value of acquisitions and disposals the research results suggest that for the market and period considered, one way relationships are present.
Volume (Year): 12 (2009)
Issue (Month): 33 ((3))
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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.
- Guerard, John Jr., 1989. "Mergers, stock prices, and industrial production : Further evidence," Economics Letters, Elsevier, vol. 30(2), pages 161-164, August.
- Martynova, Marina & Renneboog, Luc, 2008. "A century of corporate takeovers: What have we learned and where do we stand?," Journal of Banking & Finance, Elsevier, vol. 32(10), pages 2148-2177, October.
- Granger, C W J, 1969. "Investigating Causal Relations by Econometric Models and Cross-Spectral Methods," Econometrica, Econometric Society, vol. 37(3), pages 424-38, July.
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