The aim of this paper is to investigate how the acquisitions are perceived in the market value of the relevant sector. For this purpose, the following analysis examines the development of sector market value after bank acquisition announcement by Greek banks. The analysis examines the period from 1998 till 2007, when the sector was liberalised and numerous acquisitions took place. The abnormal returns are examined for different event periods (from twenty days before the event/announcement till 160 trading days after the event/announcement). The contribution of this study is important and its results are interesting in the sense that a negative effect of acquisitions will imply bad news for the sector, while the opposite will mean good news for the sector.
|Number of pages||10|
|Journal||European Journal of Scientific Research|
|Publication status||Published - 1 Jan 2008|
- Abnormal returns
- Capital markets
- Event study
- Share price