Event Analysis of Air Carrier Mergers and Acquisitions
This paper offers an event analysis of nine airline mergers proposed in 1986, in an attempt to determine whether firms, if given the opportunity, will merge to gain market power. The Jaffe/Mandelker method of independent event draws is used as the event test. Abnormal returns experienced by competitors to those airlines announcing mergers support the merger for market power hypothesis, contradicting previous literature on horizontal mergers. Copyright 1990 by MIT Press.
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.
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.
Volume (Year): 72 (1990)
Issue (Month): 4 (November)
|Contact details of provider:|| Web page: http://mitpress.mit.edu/journals/|
|Order Information:||Web: http://mitpress.mit.edu/journal-home.tcl?issn=00346535|
When requesting a correction, please mention this item's handle: RePEc:tpr:restat:v:72:y:1990:i:4:p:703-07. 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: (Kristin Waites)
If references are entirely missing, you can add them using this form.