Regime Effects of EU Market Integration Policies on the UK Financial Sector |
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Authors: | Robert M Feinberg Richard K Harper |
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Institution: | (1) Department of Economics, American University, Washington, DC, 20016-8029, U.S.A;(2) institute University of West Florida, U.S.A |
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Abstract: | Standard equity capital market methods are used to estimate the share price effects in the UK market of the recent change in regime implied by passage of key provisions implementing the European single banking market. Empirical results indicate that events associated with increasing the likelihood of passage of the new Merger Control Regulation and the Second Banking Directive had positive valuation effects for the portfolio of UK firms involved in banking services. |
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Keywords: | European Union merger control financial market regulation single banking market event study |
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