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| Author: | Mullin, G. Mullin, J. Mullin, W. |
| Title: | The competitive effects of mergers: stock market evidence from the U.S. steel dissolution suit |
| Journal: | RAND Journal of Economics
1995 : SUMMER, VOL. 26:2, p. 314-330 |
| Index terms: | COMPETITION USA STOCK MARKETS |
| Language: | eng |
| Abstract: | The authors apply and extend the Eckbo-Stillman event-study methodology to investigate the competitive effects of the U.S. steel consolidation. In contrast to previous event studies, the authors examine the stock market reactions of downstream firms, thereby enabling us to estimate the net effect of a merger or antitrust action on product market prices. The pattern reactions implies that the dissolution of U.S. Steel would have lowered steel prices and raised output. |
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