The Effect of EU Antitrust Investigations and Fines on a Firm's Valuation

Autor:	Massimo Motta, Luca Aguzzoni, Gregor Langus
Rok vydání:	2013
Předmět:	Economics and Econometrics Financial economics media_common.quotation_subject Event study Commission Share price General Business Management and Accounting Surprise Accounting Economics European commission Market value media_common Valuation (finance)
Zdroj:	The Journal of Industrial Economics. 61:290-338
ISSN:	0022-1821
DOI:	10.1111/joie.12016
Popis:	A typical EU antitrust investigation involves a sequence of events (surprise inspection, Commission decision, Court judgment) which affect the investigated …rm’s market value. We …rst model these relationships, and then use event study techniques to estimate the impact of these antitrust events on a …rm’s share prices. A surprise inspection reduces on average the …rm’s share price by between 1.9% and 4.8%, a negative Decision by the European Commission reduces it by 3.6%. If the Court annuls or strongly reduces the Commission’s …ne, this has a p
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::2e0e8b4186c05b24f2e220cad9da7889 https://doi.org/10.1111/joie.12016 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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