IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

Mergers and acquisitions of non-financial firms in Europe: the case of the Athens Stock Exchange

  • Spyros Spyrou
  • Georgia Siougle

This study examines whether mergers and acquisitions create value for shareholders in the Athens Stock Exchange, during an extremely volatile period. The results indicate, on average, statistically insignificant investor reaction around merger announcements. However, further analysis suggests that investors react negatively to announcements by bidder firms in the food and fish farm sectors, and positively to announcements in the commercial/advertising and technology sectors. There is also evidence that information arrives at the market a few days before the official announcement. Contrary to earlier empirical evidence, insignificant returns are reported for target firms.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.informaworld.com/openurl?genre=article&doi=10.1080/13504850500406972&magic=repec&7C&7C8674ECAB8BB840C6AD35DC6213A474B5
Download Restriction: Access to full text is restricted to subscribers.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

Volume (Year): 14 (2007)
Issue (Month): 7 ()
Pages: 523-527

as
in new window

Handle: RePEc:taf:apeclt:v:14:y:2007:i:7:p:523-527
Contact details of provider: Web page: http://www.tandfonline.com/RAEL20

Order Information: Web: http://www.tandfonline.com/pricing/journal/RAEL20

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:taf:apeclt:v:14:y:2007:i:7:p:523-527. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.